You may want to dip in Revive or something....very well could be a pest munching on it or pathogen (ie pox).
I had a colony that after doing very well suddenly started to 'melt' away and slowly shrink. It was still on a plug/small rock....I ended up taking out and dipping it in Revive w/ a baster moving the water through the polyps & nooks and crannies pretty firmly during the entire dip....then rinsed in cup of tank water and placed back in. They opened up a day or so after and ever since have been back to growing new polyps. Never knew what was the issue, but the Revive dip seemed to work for me.
At this point, its worth a shot.
------------