I dont like the idea of taking it out every day. That seems like a awful lot of stress even if it never leaves the water. Just too much handling and they are very delicate. I dont think anyone would advise picking up a elegant,or other delicate coral every single day. That said, people seem to have succes with it. Ive only had mine for a little over a month but in that time its gotten bigger and actually looks alot nicer than that pic. I use frozen cyclo soaked in selcon and zoecon every day and 1 time a week mix in minced krill and mysis. The sun eats most of the cyclo and the hermits and fish eat the rest. I just feed the fish a little less now since they get so much cyclo. Also, i think the excess cyclo is much less of a strain than a bunch of excess mysis, brine, krill, anything meaty.
Do you have hermits? what other fish?