Boreas
Doctor of Teleocity
Not really. It certainly can damage a finish, but doesn't explain the "two-layer" effect we see. I suppose the color base could be a nitro that was incompatible with the clear nitro. There are many products out there called nitro that aren't nitro in the truest sense. Think StewMac Color Tone finishes. Depending on formulation and application, two different types/brands may not melt together as they should.Today the seller told me the lacquer was melted from heat on that spot. They‘ve tried to steam out a dent with a hot iron and overbuffed the melted area. Does that make sense? If so, I guess the problem is limited to that spot.
If you test both the clear and the color and find them both to be softened by acetone or lacquer thinner, you may have a better chance at a less-conspicuous repair. But if you choose not to repair, I at least would consider an overspray that will minimize future chipping at the edges.
I can't say that I recommend it, but I "treated" some SMALL flaking areas on a vintage nitro finish recently with a TruOil-type product to see what it would do. It darkened some bare wood slightly, but seemed to "glue down" the flaky nitro. I didn't want to perform a nitro overspray - which had been done decades ago and was basically what was flaking off. How long this treatment lasts remains to be seen.