how are you testing your PO4? and what kit for your NO3?
if you have cyano then you certainly have an unhealthy amount of both PO4 and NO3....
if that flat worm was a problem you wouldnt find him on the glass...he would be face down in an acro waving his invisible butt at you and laughing the whole time...AEFW are usually only found on the acro and are pretty much tissue toned in colour, i havent seen white ones yet...
if you tank is big enough to house a wrasse that would be a very good way to get rid of the flat worms you have there, and as mentioned, i would be looking for other causes to your SPS problems, lighting? flow? parameter swings? actual PO4 levels? tank temps? etc....while your looking you may aswell break out the redlight flashlight at night and check for Redbugs, as they are a serious SPS irritant...
do you have any pics of the ailing corals?