Yeppers...Henry nailed it. The common name for this macro is "caterpillar algae". It tends to like a lot of nutrients in the water, and actually generally doesn't do well in pristine reef setups, but i've had it do well in FO setups. It's rather slow-growing, IME, but I keep live macro in my DTs, and it may have been outcompeted for food by the fast-growers. It also requires some Ca to grow, being calcareous (as Henry stated).