As far as I know, they're probably a morph of (I believe wall) frogspawns that just have their acrospheres packed more closely together.
To preface this, the difference between frogspawns and octospawns is that frogspawns have their acrospheres bilaterally arranged on the tentacle, whereas the acrospheres of octospawns spiral around the tentacle stalk.
The acrospheres of kingspawns are arranged bilaterally, so they might be just frogspawns. If I recall correctly, the
2023 Euphylliidae revision study used a
similar specimen as one of their samples, and identified it as a wall frogspawn (
Fimbriaphyllia divisa).
Also, kingspawns don't only occur in Western Australia; I've seen (photos of) similar colonies in both the Coral Triangle and South Pacific/Coral Sea.
Fimbriaphyllia cf. divisa | New Caledonia | Credit: Damien Brouste
Fiji | Credit: @thamnasteroid (me!!)
Vanuatu | Credit: Sue Churchill
Peninsular Malaysia | Credit: Kok Lynn Chew
But who knows, tentacle morphology is really the only way of delineating Euphyllia/Fimbriaphyllia since the most of their species' skeletons are essentially identical, and the kingspawns' tentacles do have characteristics separating them from regular frogspawns. Could they represent a different species, or possibly be a hybrid between frog and octospawns? Maybe, it's certainly possible. The main problem then, if kingspawns are genetically separate is figuring out which morph is the true
divisa, as the skeletons of king and frogspawns are (presumably) nearly identical, and Veron's figures show specimens of both morphs in his original description.