Mine has stopped growing as well, and lately has been fragmenting into tiny bits. It's under 80W of 10K PC light, and used to grow like crazy, but now it's very dark green (used to be lighter) and breaks easily.
I've done searches, and found a few things that may help us -- if Mg is low it can affect chaeto, along with other trace nutrients. I did a 15% water change, raised Ca, alk and Mg, and I'm adding iron. I hope that one of these things will spark some new growth.
The strange thing for me is that I've got some caulerpa that's growing fairly well. It's just a little, certainly not enough to outcompete the chaeto, but the same water, flow and lighting seem fine for the caulerpa and not the chaeto strikes me as somewhat strange.