What is this coming out of the Octos Gill?

[wraptor 0]

I'm assuming this is excrement but I need to know for sure. Others who I have talked to said it could be spermatophore. Thanks in advance for any help.

 

https://dl.dropbox.com/u/65155705/Octo.mp4

[Leslie 0]

Excrement. Sperm is transferred directly to the female by the male. Nice capture though!