What is "palola viridis"

Palolo \Pa*lo"lo\, n., or Palolo worm \Palolo worm\ . [From native name.] (Zo["o]l.) A polystome worm ( Palolo viridis) that burrows in the coral reefs of certain of the Pacific Islands. A little before the last quarter of the moon in October and November, they swarm in vast numbers at the surface of the sea for breeding, and are gathered and highly esteemed as food by the natives. An allied species inhabits the tropical Atlantic and swarms in June or July.

Note: In the 1890 Webster, called palola and Palola viridis. A misspelling?