Bubbles can cause die off on the undersides of certain corals if they collect there, they can also affect some fish in their gills;
Micro-fine gas bubbles sticking to gills could obstruct respiratory gas exchange, by blocking ventilatory water flow between the minute lamellae on the gill filament surfaces.
but the biggest problem is probably going to be salt creep, your lights will slowly become encrusted with salt if they are close to the surface of the water. Best is to try and figure out where the problem is and fix it.