Hey dude, Dash here. Tube anemones, genus Cerianthus, are IMO one of the most awesome critters one can keep. I'll post a couple of links at the end of this, but from my experience, this is the most useful info:
1: Contrary to popular opinion, Cerianthids are not true piscivores. They will eat fish, sometimes, but more often than not fish are too big for them. I've read a lot that indicates they are largely filter feeders; my own experience seconds this. Any anemone will eat fish, if it is big enough, but the true anemones we usually encounter for reef aquariums are actually piscivores, and more of a threat to fish than tube anemones.
2: They are intense stingers, however. Their tentacles can expand in a sphere around the oral disc with a diameter of as much as eight inches, and that isn't taking into account the length of the tube extended, or what direction the cerianthid is pointing itself in. I reccomend up to 12 inches on either side to be safe, although I have found (never read this anywhere else, though) that my tube anemones love current, and would face into it if they could, limiting their death-sphere somewhat. 8}
3: The best part is, they're not photosynthetic! Any kind of lighting would work, and a species tank (nano-ideal) would be a great idea here. If you don't have a deep sand bed, a refugium, a lot of live rock, or something equivalent to generate a lot of food for them (remember, they're largely filter feeders and planktonivores), feed them -- but make sure the food is well-diced. They seem to have trouble with pieces larger than half an inch, in my experience.
4: These guys are burrowers; their tube can grow VERY long under the sand. They also come from environments with very fine substrate. If you don't have a deep sand bed, or you do, but it has large grains, don't despair! Make them a flower pot--or better yet, but the "tube anemone" in a tube! PVC piping with a bottom affixed to one end works great. Just fill it with fine substrate and let the cerianthid "root."
Hope this helps! If you've any more questions, feel free to email me. 8}
--dash
8}
http://www.advancedaquarist.com/issues/june2004/invert.htm
http://www.netpets.com/fish/reference/reefref/ceranemone.html