In the press release they note it's "an animating and life-affirming shade of orange with a golden undertone. We get energy from nature. Just as coral reefs are a source of sustenance and shelter to sea life, vibrant yet mellow PANTONE 16-1546 Living Coral embraces us with warmth and nourishment to provide comfort and buoyancy in our continually shifting environment." Want to see some of their past selections? They list them going back to 2000.
A quick Google search on samples of coral in fashion and I see it's pretty much everywhere, from clothing to nail polish to sheets and comforters to drapes and pillows! I just returned from a quick review of my closet to see whether any of my latest purchases include any coral but I seem to have been picking a mustard yellow lately in new clothes.