It looks like potentially some algae growing on exposed skeleton, but it's hard to tell from the pics. Fungia have a hard time fighting off algae growing on their skeleton. The LED lighting may be making the flesh recede, or it may be the param swing from the move. Either way try to keep enough flow on it that algae is not growing, and feed it at night so that it can regenerate the flesh it's lost.
If it makes you feel better, I have a gorgeous orange plate that looked fantastic in my BC14 until the day it tried to eat a kenya tree frag. Within a matter of hours it shriveled up, eventually sprouted rows of reddish algae on exposed ridges, etc. I kept my params in check but didn't do any feeding until recently, and now suddenly it is starting to puff up, put out tentacles during the day, and generally get back to looking like its beautiful initial self. It's been at least a year since it went downhill and the simplicity of its recovery after all this time is really kind of amazing. I've had to trim some of the ridges to get rid of the algae but that doesn't seem to have hurt it at all. Long story short - feed and keep params up (esp. alk and mag) and feed when you can, and it'll come back for you!