The little "yellow" thing in the front? That doesn't look lobo to me. Looks like a hitch hiker from the rock. I think I have some of those in my tank as well if it is what I think it is. The lobo isn't going to spawn a separate entity. It will bulge out a new section that may or may not break off of the mother colony. I would imagine it will get rather large before it breaks off and will likely fall to the floor of the aquarium.