Actually, it's completely different. I justr eplaced a Coralife unit with a 1/2HP Oceanic on my 300 gallon reef system. Just from the pyshical appearance, the Oceanic out cover is made from a heavy black steel, as opposed to the flimsy steel case of the Coralife. Also, the unit is substantially quieter than the Coralife.
So far so good on the Oceanic, as it has only been hooked up for a few days, but I like it so far. Only drawback is the temp controller built in has a 3 degree F swing, so when i set it to 78, it won't kick on until it reaches 81F. This is poor design, IMO, but can be overcome with an independant temp controller. Granted, customers who just dropped $800 on a chiller are not going to want to spend more on a seperate controller.... I'll try to post some pics later...