Hey greggti,
I don't think that is Scinaia. I could be wrong, I'm no expert on this particular subject. But Scinaia usually has thin stalks, at least any I have seen. That looks more like a sponge of some sort. I say this from the photo it looks like tubular stalks plus Scinaia grows faster than what you discribed. Just a guess.
Whatever it is, I love the rich color.
If anyone can confirm exactly what it is I would love to know.
Moby