You could very well have too much flow. It's really tough to say whether or not you do without actually seeing your tank in person. The amount of output you need from your MP40 depends on a lot of things like aquascape and the size of the colonies in your tank. I recently had a tank crash on my 90 gallon and subsequently lost a lot of larger colonies. Before the crash my two MP40's were set at 60% in master/slave on nutrient transport mode. After the tank restart, I have only small frags in the tank and I also removed almost 40 pounds of live rock. I had to dial my MP40's back to 30-40% to not crush the polyps on my sps with all of that flow.
Try it out, turn your flow down for half a day and see what happens.
I just noticed that you are running an 8 bulb setup over a 75... what is your photo period? I run 6 bulb ATI with actinics only for 11.5 hours and all six bulbs (100%) for 5 hours a day.
What is your PO4? Like Luca said, an actual ZERO on nitrates isn't totally ideal. Personally, I have been dosing Potassium Nitrate to keep my nitrates at .25-1PPM with better results than zero NO3.