I am reluctant to answer since you asked Mike for an explanation but I will suggest that Mike is correct and that what might have led to the conclusion he reached is the rough surfaces as seen on the fields under the bison and on the obverse of the coin.
That would indicate along with the cracking a major chemical bath, possibly in an acid. The nickel planchets are .750 copper and .250 nickel so the alloy if placed in acid will eventually react and would likely end up looking like this coin.
Going further, the rim is randomly pitted as well and that would indicate a chemical damage of some sort.
I also do not think it is a bad planchet or any other problem that occurred at the Mint.
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