Quotes:
From Fishlore;
"They primarily eat algae and will graze on the algae growing on your live rock. For those reef aquarium keepers out there, this fish may not be the best choice for your reef tank. They have been known to nip at lps corals."
Aquacon
"Reef Compatibility:Reef Aquarium Compatibility Generally safe, but may nip at corals, clams, etc."
And Wet web media
"Well, in my experience, Coral Beauties can be some of the least inclined of the Centropyge angels to munch coral, but the possibility still exists. I'd definitely avoid most LPS corals, as they seem particularly tasty to Centropyge angels! I'd recommend the more "noxious" soft corals (as Scott Michael calls 'em), such as Sinularia, Cladiella, Sarcophyton, and Lobophytum. I do successfully keep some SPS species with them as well, with good results. I stop short of fully endorsing these fish for reef tanks, however. The possibility exists, particularly in a smaller system, that these guys could "turn" at any given time and start turning your beautiful reef into a FOWLR tank! Proceed with caution here'
So you can see as with anything in this hobby you pays your money and you takes your chances...