Where to begin:
Without you adding extra detail, it can be a bit hard to troubleshoot. You say you have a large lighting system. It might help if you were to elaborate on that.
One of my reasons for asking for more information is perhaps you exceeded the power of the circuit, but instead of popping, it just dropped voltage. But that may not be true. You do say that your strobe took out half your lights, which tells me you had a catastrophic failure of that fixture. It took out the rest of the DMX chain after it. Wow, bad stuff.
I must commend you for doing additional testing later on. Thank goodness nothing else appears to be damaged.
Do you use a DMX Terminator? Are you using DMX cabling? If the answer to either of those are "no", then go fix that issue right away. I don't want to hear "well, I'm using XLR and it's working". I'm an audio guy, I know XLR cable WILL work, but SHOULD you be doing it? No. Also, really, any DMX chain should have a DMX terminator. I don't care what the manual says, make and use a DMX terminator.
Going back to your description, I can't figure out what would cause the arcing. But, as we can infer, that's something bad, but you already know that. There should be no arcing whatsoever. Arcing can cause fire should too many other bad things happen. ADJ fixture's aren't going to arc under normal circumstances. It's almost as if a solder joint broke. How is you light handling? Are you normally "gentle" and how is your transporting? In a case? Retail box? "Throw it on the truck and fly-ass down the road from gig to gig?". I doubt the last is you.
It could also be some metal shaving or something else electrically conductive fell inside the fixture. I would think a quick shake and rotate would clear that issue though. Even if it was a dead bug or something else, moving SHOULD clear it, or a gentle burst of compressed air while the fixture is electrically disconnected.
I haven't had anything remotely like this happen. The fuse didn't blow, so that,s a problem as well. Definately take that strobe out of production and contact support ASAP on Monday.
Thank goodness nobody got hurt or this causing any other issues. Let's hope luck stays on your side and that such a problem never happens again.