I have to partly protest
@Diesel . Xenia (and all corals that use photosynthesis) does both thing – produce oxygen and consume oxygen. During light they are net producers of oxygen and during darkness they are net consumer of oxygen. It means that in a not so aerated reef tank – the oxygen level will swing up and down. If there is very much of corals and a bad aeration (read skimless and no other aeration) - the oxygen level can drop very low – dangerous low. I have been there (probably) with one tank total covered by Xenia and hairy mushrooms. If they are net producers or net consumers during a 24 hour period (12 hours light – 12 Hours dark) I can´t say – Probably – its differ between species. But my believes for Xenia is that its normally (at least 12 hour light) a net producer of oxygen.
The pH drop is possible because when the Xenia disappear – a carbon dioxide consumer also disappear.
CO2 levels and O2 levels is two sides of the same coin when you deal with organisms that use photosynthesis.
Sincerely Lasse