I just went through this, and lost parts of almost every single frags \ mini colony and even lost some complete full blown colonies. A month after a big alk swing ( 8.6 -> 6.6) one mini colony started to RTN, then next day another, couple days later another, until it went through almost all 50 of my frags... I lost a couple, but after getting it stable very quickly, things are now scarred, and growing like normal again.
The alk swing may have already happened some time ago and it doesn't manifest itself for sometimes weeks like my case. Keep it stable, stable stable, and ride it out. if it gets bad enough that your coral is almost completely dead, frag one of the tips of branches that isn't being touched by the recession and grow it out. I saved an amazing one of a kind wild acro colony that way... I lost 99% of it, but one branch. After being mounted it's now regrowing again and encrusting on my rocks.
Good luck, it's painful, frustrating, and sometimes doesn't make a lick of sense. Also, get the PO4 and NO4 down too, it's not going to help with SPS in the long run.