I'm not sure that anyone knows for sure, but I've read that it's a bacterial infection. Some theories are that it's caused by erratic fluctuations of Alk, or Alk too high, to low, etc. Rapid changes in tank chemistry, nutrients, temp, pH, etc. might cause it.
I had it periodically when my tank was new which is why I recommend people wait till their tank is a minimum of 1 year old before they try acros. Since about the one year mark, I haven't had any issues with it.