Help with red fuzzy algae

[Chin_Lee]

My tank is starting to get infested with this algae.






I have a yellow and purple tang in there and they are not doing much to alleviate the problem. My observations to date:
1) it prefers to grow in high light areas
2) high flow doesn't deter its growth
3) I am running rowaphos in phosban reactor and last i checked, my phosphate is almost undetectable. Come to think about it this algae is actually doing better since I started my phosphate reactor.
4) manual removal with a toothbrush seems to work well but only on pieces of liverock that I can remove from the system to do so.

So the questions that I have are:
Does anybody else have this problem and if so, how was it managed?
Does anybody know what this algae is called or if its even an algae?
Does anybody know of an animal (fish/invert) that will eat this algae?

Please help if you can - this algae is making my tank highly undesirable.