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IMO, there isn't a real bullet proof phosphate test kit out there....but that's me. For that reason, I've really stayed away from those test kits. You could give it a shot though but I cant offer any input on it.
If it looks waxy, it should be fine. I have corals that have done that for weeks then bounced back....but do keep an eye on em.
When you say other corals, do you mean other leathers?
It depends, typically we'd like to see at least 10 or folks at the meet. Some folks dont RSVP and some may and then not show.
My concern for you as the host is that you go all out and no one shows up.
Personally, i dont trust the API as they are hard to read with their colors.
Try the Nyos as folks have had better success with it
https://www.marinedepot.com/NYOS_REEFER_Test_Kit_Nitrate_Nitrate_Test_Kits_for_Saltwater_Aquariums-Nyos-6D92118-FITKNA-vi.html
This solution is set to 35ppt...so apply a few drops, then with the little nut you can adjust your refractometer. You should calibrate at least every few months or so.
Could be shedding, let it be for a bit then come back to us. If it shrivels up and starts to waste away then that's a bad sign.
Take a pic so we can see