jelly bean size 'squid' eggs?
Red sea is cool and you certainly were lucky to have such an amazing ceph encounter! good on ya.
Well, I was just wondering whether those cephs that you saw were actually squids at all. From the way they take turn to lay eggs in the corals and that the eggs were jelly bean size eggs, I reckon they were actually cuttlefish instead. Thats what cuttles do when they lay eggs.
On the other hand, squids seems to lay longish, sort of spindle-shaped egg case (translucent and whitish) which are of comparable size to the squid themselves. Also, when squid spawn, they aggregate in hugh mass at night in a spawning frenzy. They soon die in hugh numbers right after that.
Maybe, we need a squid expert such as Steve to clarify this.