Bleached is OK... it'll do that if it's out of water for even a short period. But it'll still kick start a bunch more.
There's no magic time table regarding how long it'll take to get established, but if your Calcium is at least 360 or so, and your alkalinity is somewhere around 8 to 12 dKh, you should have a fair amount within 6 months.
Kurts Advice seems RIGHT ON!!
That is exactly what occured for me.. I setup my tank in Dec08 with 50lbs of LR with nice Purple/Green Coraline coverage. However, during the 1st month of the tanks life, it pretty much all Turned White. I stressed over it for some time then just kind of took the attitude that when it comes, it comes.
Here I am (5 months Later) with Coraline growing on my Glass, Powerheads, Overflow Box, Snails, my Mag Cleaner, etc. Oh yeah, and my LR is looking really good again..
Over these 5 months, mY Rock went from Purple, to White, to Neon Green (Nussiance Algae), to Dark Green, to Purple green. Now it's almost all Purple
EDIT - BTW - Last month I added 30lbs of baserock and it looks like the process is starting agin with this rock. After 1week the Neon Green covered this rock. Now I already see Purple Spots Growing