I don't think it's the coral that doesn't like the direct light I think it's the worms. There is some symbolic relationship between them and the coral that encrust the rock. Once the coral dies they are soon to follow is what I was told. There is some truth in what you were writing. They like water movement and do need light. However, the MH light I think burns the worm. I think this is why they are having so much trouble with it surviving in the tank situation. They can't figure it out. The coral needs/like high light and water movement but worms don't.
Please keep us posted. I'm definately interested. This is something that I wanted BAD. If you find that you have success with it share with the rest of us. I would be one that would like the info. for sure. When searching the internet I was able to pull it up by putting in christmas tree rock and christmas tree worm. Try that and see what you find. Some places are selling them online but there are a few articles on care for them.