Indeed!

This isn't necessarily a strike against carbon dosing or refugiums
per se either. Just reading the symptoms of
your tank as best I can with the knowledge (still left!) rattling in my noggin. I can definitely be wrong!

That's why this isn't a game of Simon Sez....it's more like a game of "check out the reference I read to see if you think about the same thing I thought when I read it, cuz even in aquariums the clues seems to add up the same...and your aquarium seems to have some of the clues present."
If taking the reactor down "solves" it, all we could say is that you might have been overdoing it with carbon compared to the tank's current condition. That's not saying much more against carbon dosing than "things look better now".
After all, underestimating the potency of a pellet reactor is hardly unheard of....I know you're running with a small amount of pellets, but
how much carbon is that? Depends on too many factors to say – that's the issue with pellet reactors I think. In contrast, we can compute how many carbon atoms per dose are going into the tank with things like vinegar...which, for example, seems to have far less reports of "problems" compared with pellets. (Not trying to sell vinegar dosing....just comparing.)
The good thing (I think) is that this doesn't seem to be urgent....no corals seem to be in danger of anything in the short term – frag plugs can be dipped in straight H2O2 in at least some cases to give them some breathing room – so you can take your time, make small moves and spend time gauging effectiveness of whatever you try.
Remember that nutrient changes can take 3-5 weeks to fully play out.....much longer in some cases. Makes every step a judgement call and I guess a test of patience too. Gotta love it!! ;Facepalm;Happy