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Colony started on a reef disk and 1 more on the overflow. First impression was perhaps Bubble allargy but its more of a colony of sorts, hollow corn kernel shaped, not spreading elsewhere so far.
GregH
You are right it is a red bubble algae. That one doesn't spread as fast as the other species and is actually sought after by some folks because it is rather decorative.
As long as its not invasive or a problem, this colony has been months to get to this size and has not spread. Biodiversity is welcome in the reef.
GregH