They are beautiful creatures, but they aren't really cut out for reef tanks. In the wild they are found on mud / silt bottoms where they bury deep into the substrate. In a reef tank they will make their tubes out of layers of mucus, but unless you have a deep sand bed of fine pieces, they will probably end up falling out of / leaving their tube in search of deep sand (similar to LTA's and other sand anemones). When they do this, they are particularly vulnerable because their soft bodies have no protection, plus they leave a nasty tube of mucus behind. Finally, when healthy their tentacles can extend long distances in the current. They will sting anything they contact, and can burn/damage other sessile inverts.
They would be appropriate for a species tank, or for a special mud flat environment.