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Yes, it is a species of Valonia (bubble algae). It is't harmful in and of itself but can grow to plague proportions quickly. Do not attempt to remove these little ones. If they break, you get more. I have heard Saly Lightfoot's wil eat it. I had a Tang that would nip at it. If you can get macro algae to compete with it the macro will win.
Ok, because I have a small tank, 29 gallon a tang won't work, we used to have a false lemonpeel angel that I know eats some types of algae, but one it was too big for the tank and it picked on the other fish in the tank, that was real fun trying to catch him to take him back.
Ok, as far as Macro algae, I do like the Calupera but won't that take over my tank? I don't really want to get anything that is cause problems with the other corals I have or am going to get?
I don't seem to have it on any other live rock, could I take that piece out and get rid of it somehow?