I don't really know the answer and I've not done any experimenting myself in this area. So any comments are based on what I see from other people and what seems to make sense.
I think the answer may depend on the nutrient levels, with ULNS SPS tanks being a lot more sensitive to getting burnt tips than tanks with higher nutrients seem to be. One hypothesis may be that at higher alk levels (which never happens in the ocean), the skeleton grows faster than the tissue, making it thin and susceptible to damage (such as from light) at the growing tips.
At higher nutrient levels, higher alk does not seem to be a problem and corals may grow faster.
So the question then becomes how much variation is OK. I think variation of less than 0.5 dKH may not usually be a problem, even in a ULNS, although in ULNS that may be getting close to the limit.
The answer may also depend on what you mean by variation. Alk varying from 7 to 8.5 dKH EVERY day may be OK (like with once a day alk dosing) while being at 8.5 dKH for a long time then jumping to 7 dKH for many days (or the other way around) may not.
In general, for a ULNS tank, I'd keep alk at 7-8 dKH and try to keep variations less than 0.5 dKH.
In a nonULNS I'd let the alk go higher if I wanted faster growth, and might allow a bit more daily variation.
I readers have experiences that support or dispute these values, please chime in with them.
