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help with plant ID please - crassula ovata undulata?

May 27, 2013
central Arkansas, USA
Bought this from a little one owner nursery this week while traveling for work.

I asked the owner what type of succulent it was and she said, Europa.

I asked her to spell it just in case I was misunderstanding her. E U R O P A.

I said huh, it looks kind of like a jade plant.

Yes, she said.

I think it is wavy jade, or crassula ovata undulata. I also think it has been overwatered, and am toying with repotting it (it's in a plastic pot one size smaller than the clay pot I'm using to make sure it doesn't tip over).

Thoughts? And thoughts on light requirements? Right now it's in a dry terrarium, on the "shady" end.