I have mine about 8" under water (lights are 10" above water) 8 bulb ATI powermodule, so quite high par (400+ I'd estimate).
It is a bit finicky (understatement) but as it becomes a big colony it gets way more tolerant in my experience, mine is about 8" in diameter now. Still, if you want it to retain the rainbow look, you better have rock solid parameters for at least 4-6 months at a time.
Pife is right!