WebEcoist rocks with an informative piece on a species commonly confused with a sea slug, and yes the name is pronounced how you think it is-
Nudibranchs’ unusual name comes from their distinctive breathing method: “naked” branchial (breathing) tubes on their backs which resemble branches or bushes. However, not all nudibranchs sport this unusual-looking breathing apparatus. While nudibranchs are commonly referred to as “sea slugs,” which is technically a valid title, it should be noted that not all sea slugs are nudibranchs.