candy cane shrinking?

Purchased a candy cane coral last weekend. Looked really good, sweeper tentacles didn't come out till the second night, which I think is pretty normal for being in a new tank, fed it some mysis which it ate fine. Tonight it looks really shrivelled up. I did have it on the sand bed then moved it to middle of the tank. I was fiddling with the lights tonight and when they turned on the candy cane let out a puff of milky colored water. I have a 55g bow front corner tank with a glass cover, water depth is 21", lighting is 4x24W T5HO (2 actinics and 2 plane white lights) the fish store said that the lighting would be fine for most LPS and softies. Does this sound right? or am I being too paranoid?

 

First off...im running my Candycanes off 2 PC lights...they are doing great now...really looking healthy....But i do remember when i first got them the sweeper tentacles didnt come out for almost a week. and even sometimes it does shrivel up...i wouldnt panic...i would give it a couple weeks.