Ive seen something like that with a birdsnest colony whitch was the only coral in my tank have symtoms like that.
Asking around and the responses were mixed to what maybe be causing it.I agree with what someone else stated in that noone knows what causes it or how to prevent it.I posed the question in other sites outside RC and never found a definite answer even from chatting with some biologists.
Initially ,I got a bit of panic and was about to trash anything in my tank that even looked supect,but after chatting with some folks that have actually experienced this I decided to just let it be and have noticed nothing contagious or ailing from it.
If you do a search you'll find its shown in many message boards and seen in everything from acros,birdnests and many other sps,also pics of favias ,chalices and so on that have similarities of thoses bubble like apperances.