Finger Leather Coral Dying?

[reefgreg]

Hi all,
New to the forum. I have a 60 Gallon corner aquarium with a 20 gallon sump and 50 pounds of live rock. I have 2 clowns, 1 atlantic blue tang, 2 yellow tail damsels and an assortment of inverts.
I have had a large piece of finger leather coral in the tank for the past 4 months and it has grown and even moved off of the fragment of live rock to attach itself to the larger piece of rock. I came home from a weekend away and found it to be limp and starting to change from the pinkish hue to a green hue. I've also noticed that where it is attached to the live rock seems to be a little less solid than before.
My water parameters are good:

Salinity: 1.026
Nitrate: 10 PPM
Nitrite: 0
Phosphate: 0.10
Ammonia: 0
PH 7.8
Temperature: 82 F

I've attached a couple of pictures to better show the issue. I've read in a few places that this is part of the natural molting process but I am not sure. Has anyone come across this before?
Thanks for the help1