Interesting if true, but worth keeping in mind that there are a lot of Atlantis hypotheses (even assuming it isn't a fictional or amalgamated story), and this one in particular has been a line of inquiry over the past decade or so without a lot of consensus as far as I can tell. Wikipedia has some links to previous proposals of this location: http://en.wikipedia.org/wiki/Location_hypotheses_of_Atlantis...
Hasn't it been demonstrated very thoroughly that Atlantis was a hypothetical city Plato & co. used in their dialogues, and was never meant to be considered as a physical place?
Or, more likely, "a" lost city. There are a lot of those, you know. Just because it's near the Straights of Gibraltar does not make it "Atlantis", tribute cities or no.
Some of the video of the Japanese tsunami made me immediately think of Atlantis. A person seeing such things 4000 years ago may well have described it as "swolled by the sea".