Ag lime is used in fishery ponds primarily to maintain a KH level above 30 mg/L and optimally between 75mg/L and 200 mg/L. It is usually added annually as needed to maintain this level. The bioconversion of Ammonia negatively affects the KH level in a body of water reducing it over time. The greater the fish load, the greater the Ammonia production, the greater the reduction of KH. Add to this the steady accumulation of other organics which are not reduced or controlled as in a garden pond and the ultimate decay of these organics and release of even more Ammonia, the KH level is in a steady state of reduction.
It should be monitored periodically to at least establish the rate of reduction so as to ward off any potential pH crash.
Whether or not a pH crash occurred in this particular pond remains to be determined, but given the presented information, the indications are that one did.