white stuff

My butterly has developed these cottony looking little white balls at the end of the tail and cheek fins. It started out as just one on the tail and looked as though it had and air bubble attached but has since grown and spread to other fins. They are thes white little balls at the tips of the fins and it is now looking like it is growing around the top spines as well. Any ideas as to what this might be or how to treat it. Is this a disease that may spread to other fish????:eek:
 
this is a copper-banded butterfly, it actually had one of these spots on the tail at time of purchase and i didnt notice it until i got home, and it has since spread. Water tests have been great-PH, 8.2, Ammonia,0 , Trites,o, and Trates at about 5ppm. Had a hard time feading him at first with the frozen food that the other guys like so I got some live brine shrimp and he eats like a little pig now!!
 
OH and the others in the tank are a Maroon clown, domino damsel, and two firefish. 20 lbs LR and 60 lbs LS. It is a 46 gallon tank with a Seaclone 100 protein skimmer, 190 powerhead, 250 Magnum HOT, Bio-whell pro60, and 2x96 light with one actinic and one 10000k.
 
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