I believe it’s reacting with hard water, particularly magnesium or iron. There is a Brewing Network show with someone from 5 Star. http://thebrewingnetwork.com/shows/469
My experience went the other way. I’ve noticed that my water gets cloudy more often now that I’ve used up my old bottle with the cracked cap (did you drop yours too?) and moved to a new bottle.
I contacted 5-star to ask them what to do when my cap broke (it was worse than a crack). They sent me a half dozen new ones, never asked for anything in return. Now I save the caps from the old bottles so I always have a few around just in case.
I think the cracks come from screwing the caps on too tight for the strength of the plastic, and possibly the starsan might weaken the cap some.
Just checked some solution made a couple days ago. Crystal clear but I have been discarding quite a bit instead of reusing it. Honestly, starsan seems to work as well fresh or when it is murky or has bugs floating in the solution. Wonderful stuff.