There are many different uses of glowing body parts in the ocean, this appears to be a novel deep-ocean discovery.
New Find in the Pacific: Worms With Glow Sticks By HENRY FOUNTAIN Published: August 20, 2009
Scientists have discovered seven new species of deep-sea worms in the Pacific. The worms, members of a new genus, Swima, are up to about four inches long, eyeless and have paddlelike bristles that move rapidly, allowing them to swim forward or backward.
That's all very interesting, but what makes the worms truly spectacular are the little green glow sticks that are found on five of the species. Attached to segments near the head, these tiny organs — more blobs than sticks, actually — can be released from the body, instantly producing a bright green bioluminescence that lasts for many seconds as the worms swim away. The researchers refer to the worms colloquially as green bombers and say the phenomenon may help them distract potential predators.