Yes, it does but it will slowly die on you.
Joking bro, most corals have colours cuz they have a certain kind of algi (Zooxanthalae) living in thier tissue.
The coral provide a safe place for the algi to harbour while the algi in terms provide nutrients to the corals through means of photosynthesis.
These algi comes in arrays of colour from brown to blue.
When you see white corals or very light coloured corals, it usually means that the corals are stressed to the extend that it expelled Zooxanthalae from its tissue (so called Bleached). If this happens, the corals will usually die within the next couple of days.
My limited 2 cents.
HTH