Will live rock grow coral?

The pink is more likely what's called coralline algae. This comes in pink, purple, red, and pale green and grows on the surface of the rock like a crust (see photo of purple corallin algae on rock: http://www.simplifiedreefkeeping.com/mello/dd/2har...

The mushroom like things could be a coral relative if they're flat and open (http://www.reefland.com/forum/attachments/reef-aqu... , http://www.tylermerrick.com/images/corals/red_mush... http://www.fishtanksandponds.info/images/raw-image... but if they have a shape like a puffball and are green or red, it's more likelely a bubble algae (http://www.reefsanctuary.com/photopost/data/519/me... http://www.cs.cmu.edu/People/cap/pictures/myreef/m... ). These can be attractive if there are just a few, but they can overtake your tank if you let them grow. You can remove them by gently scraping them off the surface of the rock, but if you break them, they'll reproduce. That's why I suggest taking them out of the tank in a ziplock bag or other container and do the removal there - less chance for a mishap.

You might get real corals, but you'll most likely need to buy the kinds you want. Depending on the size of your tank, you may want to buy "frags" - pieces that have been broken off other corals for reproduction. These are smaller and less expensive, but will grow to fill the tank.

Here's a website where you might try identifying some of the things you find: http://www.reefs.org/hhfaq/

More than likely, No. Your going to have to go buy it. I just got some live rock and all that came out of it were little white star fish. After so long the algea will turn the rock pink, purple, or green.

Live rock usually has 'hitchhiker' coral and algae species on it. These hitchhiker corals sometimes will grow large over time, but usually you'll want to buy larger pieces of coral from the pet store to place on your live rock.

Where did you buy it? If it was with other corals, the coral may have reproduced, having one of the buds falling on the rock. Hope this helps!

It is possiable. Chances are what you are seeing are a form of polyp as well as coralline algae's. There are a number of things that you can get in and on live rock.

get your coral fixed you must be running a coralmill