First the easy questions: Fission means splitting into smaller parts, and is a reproductive trait of several anemone species - I would venture if it has the energy to devote to reproduction, it must be 'happy'. Photo-bleaching could mean several things, in the context of our discussion, it is loss of coloration in the anemone. The question remains however if the loss is due to non-production of the fluorescent proteins by the anemone, or if the protein itself bleaches. A crude analogy is the 'washed out' look of drapes exposed to sunlight over a period of time. Blue light is absorbed by the photopigments with the chlorophylls and can be used in photosynthesis, thus providing some nutriment to the host animal (coral, anemone, clam.) It can also induce coloration (colors that might 'pop' or fluoresce.) And finally, the tough question - Without knowing the intensity of the light (a PAR meter is the best compromise, but a lux meter is better than nothing) I can't answer your question. Others with experience with your particular light here on R2R are your best resource.