i used my species specific seahorse tank for a project in my ecology class. I "borrowed" a live wild seahorse specimen from my lfs, and added him to my seahorse tank when i only had one captive bred female horse, and recorded their interactions, moods, feeding habits, etc, to see the difference between the two. Needless to say, it was very interesting and after the captive bred seahorse "taught" the wild specimen to accept frozen mysis shrimp, i had to permanently borrow him. But he is a cool addition to the tank, and the two have pari-bonded ever since.!
You could also do a 'microvert catalog' and take random samples from a live sand bed, keeping track of area, includign depth, and identify and categorize the types of life that occur in each, trying to find out if bristle worms are more likely to colonize sand located near lr, rather than in the open, and etc.
If you have a microscope, you could also try to identify various types of algae in the marine aquarium, from macro such as caulerpa, to micro such as cyano, oscillatoria, other smeat algaes, and also coralline, sargassum, which is a brown macro, etc.
ill try to think of some more and let you know