I gather that you want to know the difference between crushed coral and aragonite sand for substrate of aquarium?
Which is better mostly depends on your peraonal taste, but many people now use deep sand bed (DSB) with fine aragonite sand. For fish only setup, many will go with regular crushed coral.
Not all sand are live sand, and not all "live sand" is live sand. Yes, it depends on your own definition of live sand, but if it comes in a sealed plastic bag and lay around in the store for months, it is not "true" live sand.
I don't think any sand is bleached. First of all, it is kind of waste of resource. Second, it is a pain to get it to be safe for fish if any bleach is left behind. Third, who want a bleached sand if they can find the whitest possible sand without bleaching?