I got a bubblegum monster that looked like that out of the box. The box showed signs of mishandling during shipping. The shipper took all the precautions possible. The coral made it and looks great now. The FT is tough, I wish you the best of luck. I wouldn't dip it. I would just put it a nice low flow low light area and see what happens.
i don't think the ratio really mattered; i just took what i was normally going to dose in my tank and used that.
but basically, i used zeovit concentrated amino acids with the recommended dosing at 1 drop per 25 gallons per day. my system uses 10 drops a day, so i just took at 10 drops and added it in a cup of tank water and let the frag soak in it for 10-15 minutes, my assumption being that it would have a chance to absorb more nutrients in a concentrated solution. after that i just dumped the whole cup into the tank to use in the system; no need to waste $$$ supplements.
I always give a coral that "looks" dead a chance...especially chalices. They have skeletons with a lot of nooks and crannies (sounds like a Thomas' English Muffin) but even though you may not see it, there could be some flesh hiding deep inside. I say always give a "dead" coral a chance...you could have a Phoenix on your hands.
Glad you got it back and it looks GOOD!