Can Anyone Help with Identification ?

Whilst on a Macro dive at Kapalai, Joanne's keen eye pays off with the discovery of a tiny Octopus. After studying our series of photographs we are still unable to identify the species. We believe it is related to the Blue Ring Octopus due to obvious similarities. We've been in contact with Marine Biologist friends in Australia and to our knowledge this is currently undescribed. If anyone has seen or knows anything about this delightful critter please contact us, we would welcome your input. For the purpose of a common name we've called it the Two Ring Octopus.

Location: Mandarin Valley, Kapalai, Celebes Sea, Sabah Borneo
Depth: 11m
Distinguishing Factors: Single blue ring either side of the Mantle (body), skin flaps above the eyes, extended frontal appendage in the centre of the eyes.
Size: 2cm including tentacles
Notes: Rings displayed much brighter when disturbed, most likely as a warning of a venomous bite.