They are cool...... to a point. Usually they don't do well in our tanks and die off, BUT (isn't there always a but!) in the wild, these critters are a fouling organism, so they have the natural propensity to get everywhere on everything. Usually they are limited by food, which can include zooplankton, phytoplankton and detritus. I have never seen tunicates take over someone's tank before. I had a tunicate tank one time and it wasn't easy to maintain. Could you have introduced it recently with a coral or such?
I would think it time it would burn itself out in time. If they didn't subside, it would be easy to limit the food and step up the maintenance. If you're feeding your corals, this could also be a source of of extra nutrients.