well if you like the look go for it its resistant to predation by herbivorous fish due to its nasty flavor, its not prone to going sexual like caulerpas, it doesnt spread as fast as hair algaes, and it makes a good breeding ground for pods.
If were thinking of the same thing, it's also called Turtle Weed, but the scientific name is Chlorodesmis fastigiata. It comes in the most neon green colors I've ever seen. I think a few tangs and angels will eat it, but like RZ said - it tastes bad and most leave it alone. Go for it!
I wish it would grow faster in my tank....my sailfin loves to eat it....i have to hide rocks up high for awhile to get it growning then when i put the rock down in the tank he keeps them about 1/4 in high