Yeah, my guess is that "magic touch" is what he's using to advertise his store.
I too have a coral elegance, purchased from Blue Sierra in Issaquah, Washington. It was BEAUTIFUL bright green, nice size. It started to display the same symptoms. My wife and I read somewhere that these corals are generally found in silty areas amongst sea grass where they're probably not getting high light, and the water quality is less than perfect.
So we moved the coral further down in the tank, and somewhat in the shadow of a rock outcrop. To our pleasure, it started to recover! For about two days. Now it's looking just as bad as ever. We're getting ready to move everything into our new 120 gallon tank (from the 55 we currently have), and it will move too, providing it's still alive.
What was quite interesting was the LFS claimed that this particular coral just wasn't selling, and he had no idea why. Yeah, right. I'll bet he was happy as hell that this coral walked out with a $110 price tag on it. Sigh.