So I was just exploring around the eye of azshara Island looking underwater and saw an upside down boat on the south east.
Swam down to it and inside and then you have to swim through like 5 rooms and eventually you end up in a little cave with some crabs and a strange purple orb...
I'm on my hunter but if anyone wants to check it out with another class, go ahead
Might just be nothing and the purple egg is a fish egg or something
Purple orb thingy:
Location: (swim down to the ship and get inside it from underneath)
After you swim through the ship enter the cave behind this bush
Found these 2 guys too:
Ship from above:
Entrance to ship behind bush: