If getting too much light I would expect it to fully open in the morning, then gradually retract as the photoperiod is extended. Sounds like this clam is directly from Biota and not a hobby tank? I would shoot them and the vendor (Guessing DD?) an email or call and ask what lighting it was kept at not at DD but at biota. If it's a 10 inch think of how much surface area is getting 400 par with that huge mantle extended, that is a lot of light! How long is the photoperiod? A lot of places raise these clams outside with shade cloth which varies a lot depending how thick the cloth is, but I would guess they don't get that much daily light as your clam is getting.
I missed the part where you said that you have had it a few months already. This has been progressing then? You said recently it started pulling in so it appeared to be fine several months under the same lighting?
Did the shell have a white growth margin on the edge when you got it?
Well, when I first got it, it extended as usual for a few days, then the mantle did not open nearly as much (perhaps an inch from the edge) for about a month or so. Then progressively, it has shrunken back to what it is now. There is no gaping of the mouth, and the clam still is able to push a massive amount of water as it closes, so it seems strong.
The shell did have a small white margin when I got it. As I look at it now, the inside is still pearly white, so I don't exactly think that there isn't enough light for growth. I have not seen an increase in the shell margin though, but I don't think large clams grow as fast either. My thinking now is that if it's not the light, I wonder if I don't have enough nutrients in the tank? I was dosing Vibrant at this time too, and my nitrates were too low to even support chaeto. I've stopped Vibrant for a few weeks now, but I run both carbon and Purigen to keep the water clear. Notably, the skimmer has been barely outputting anything from the addition of the carbon. I've removed the carbon for now, for the water is pretty much crystal clear.
With a clam of this size, I'm sure it filters a lot from the water column, but I don't exactly know how much NO3 and the like that it consumes daily. I've incorporated sodium nitrate dosing to get my NO3 above 0 (indicated by my API kit) and will see if this affects the clam at all.
I have a Hippopus and a small blue squammy on the sand, and they don't seem phased by my current water chem. The Hippopus is actually starting to show a slight bit of retraction though.
I know that I'm not gonna find the cause if I change so many different things, but I want to do all that I can to save the clam, it was not cheap, and it's out of the guarantee period.