My guess would be it is just a different type of polyp. If it were bleaching or something, you would see it on the surrounding polyps which appear to be in great health.
Here is some more information but note that sometimes it's VERY hard to accurately identify one from the other but this will help some
Below are some pics from some of the ones I have or had at one time... Palythoa/Protopalythoa (common name: button polyps)
Green Neon Paly
Grande Paly
Nuclear Paly
Neon Paly
Zanthid/Zoanthus
Here is a shot of my Zoa Garden (you'll see some Paly's in the back there)
Zoa Garden
One thing you notice is that many Palys (nothing is set in stone here) grow more "singularly" and common Zoas (sometimes called Zoos) grow closer together. They are from the same family and often times are cross-identified.
One difference in the ones that I have is all my palys will "Actively" feed (close up and intake larger food) while none of my Zoas actively feed. I'm confident they are still feeding from the water column but they don't show signs of "capturing" the food by closing on it.