My Elegance Coral has a bubble? huh?

I'd just leave it alone and let it 'reverse' itself. IMO if you go messing with it you're either going to 1. Make a normal situation into a bad one or 2. Make a minor situation into a big one.
My candy cane gets bubbles from time to time and so does my trumpet and it's always been associated with growth.

 

Right and we moved it from my dads tank where it was 4" from the surface of the water and 5" from the power head so we put it in my tank in the sand not on rock.