I moved mine from one tank to another about 6 months ago. The rock it was originally on stayed in the tank and is now covered - the exact same colors.
In the new tank I burned mine very badly with my LEDs. It still hasn't recovered (the blue turned pink and the mouths stopped opening.) So I'd say no to the high light. Mind you, it did fine for about a month, but once the teal 'skin' started sloughing off it didn't stop until I hid it in the shade in the bottom.
I just picked up a piece that is green with bright orange mouths. I love this coral, definitely on the top of my LPS list.