Think I got a indo elegance coral

I've had a lot of luck with these by keeping them completely off the sand bed. I rescued one over a year ago and mounted the skeleton to a rock. It kept it off the sand bed and rebounded nicely.
 
What do you guys thinks about my Elegance coral pictured below. I got this guy from Petco. I have wanted to get an Elegance for a long time but knowing the low probability of keep one alive when they come in sick, I have not get one for many years.
I saw this elegance about 2 weeks ago appears healthy at Petco. It have not deflated at all or receded for the duration that it is at Petco, I decided to give it a try. So far it is doing well in my tank for the last few days. It ate some salmon slice yesterday. Over all it is doing OK, close-up a little at night. One time it deflated when I was over zealous adding two parts additive to the tank, but other wise it is doing fine.
The whole bare skeleton is covered by an red/orange sponge that see to be very hardy. You can see the sponge at the base of the Elegance coral. I wonder it it damage the coral any. I plant to see if I can transplant the sponge to one of the rock and grow it. It (the sponge) look very colorful and beautiful. This Elegance coral is not the most colorful, but if it is, I would not last 2 weeks at Petco.
Regarding placement, I have it near the corner of my 100 g cube aquarium, about 28 inches down from the surface, and about 1.5 feet away from the center of the light which is a 250W DE 10,000K MH hang 6 inches above the water surface. Moderate to low flow, the flow barely move the tentacles.

I am a veteran at reefkeeping but really new at keeping Elegance coral, my first. Any advice is highly appreciated.

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