Though I believe strongly that anemones require strong lighting, and amateurs should never attempt it, there is really nothing shocking about the picture. Everyone saying it's going to die because the second picture it looks straggly doesn't really know anemones. At night my anemones will pull back into almost nothing sometimes, there are some mornings my girlfriend swears my anemone is dead, and in two hours it looks like a show-winner. Mine would also look a little bleached when it pulled back, only to brown right up when it came back full force.
Although I think people are taking educated guesses at that one being completely bleached (which you can't tell in actinics) it probably is a bit bleached. But for everyone to say it's bleached and it's dying, with only seeing a night picture of it under actinics, is just looking way too hard at things to be critical of. And then the rest of you are just jumping on the bandwagon.
I used to have two LTAs in my first tank, when I was young and uneducated, but they lived for three years. In standard lighting, just a Triton strip, with nitrates almost off the chart. So if that is an LTA, and is well fed with a good regimen of chemicals (i used four or five regularly) then it can live for a long time. Not that it's the best thing to do, but it is possible, not EVERY anemone requires the strongest lighting.
Lionfish12, whereas it may live for years, it's dicey, and I would definitely look into getting a little stronger lights. If you must keep the anemone in there, pile some more rocks up and get it closer to the light maybe, and start adding some chemicals and supplements. What are you feeding the anemone?
Here's mine after three years with bad lights: