They really don't eat. They likely just absorb nutrients, similar to Xenia. There really should be no shortage of these even in the most pristine tanks when compared to the ocean where they come from. It is possible that they grow faster in tanks with higher nitrates. Mine doesn't grow that fast either, but another guy in our club, who I got my frag from, says that his grows extremely fast.
I've also noticed that, in general, corals that start off as small hitchhikers often grow pretty slow until they hit a certain size and then gradually seem to grow quicker. This is probably due to the limited number of polyps and the fact that individual polyps can only split so fast. As the colony gets bigger, it seems to grow quicker even though the polyps may be splitting at the same rate or possibly even slower.