Nathan please see my response to this question in the Private Q&A section. In short, I don't think this has to do with Google's goof-up a couple weeks ago, or with some of the other shifts, but I do think you are in violation of some of their guidelines on a pretty massive scale, although unintentionally and with good reason. I'll go ahead and paste my answer below, but the Private version includes links and other information that could identify the site.
Hello Nathan,
There were some pretty major shifts on the 16th, 19th and 24th-26th so the time-frame raises a red flag. However, with the little information I have (basically your indexation count) I think you may have a problem that isn't related to any of the recent algorithm shifts.
Assuming you are talking about ####.com, I show 462,000 indexed URLs from that domain. Nearly half a million URLs is quite a bit to index and you can imagine that Google might want to thin that out a bit and focus only on the ones that are important and original.
If you have 460k + pages, but most of them are duplicate content or significantly duplicate content, and most of them have no external links, this would put you in danger of being affected by several different algorithms/filters/penalties put in place by Google to keep such pages from bloating their index and outranking what they think to be "better" content.
That can be a hard pill to swallow because you know your content is good and people like what they find there. But let's look at this from the perspective of an impartial machine...
The following EXACT phrase appears, word-for-word, on about 22,800 different pages, most of them from within your site: "PHRASED REMOVED FOR PUBLIC VIEWING"
The following is typical of the "Related Terminology" section of your pages, which could be interpreted by Google as being keyword spam: "You may have searched any one of these terms to find this product: Keyword1, keyword2, keyword3, keyword4, keyword5, keyword6, keyword7, keyword8, so forth and so-on for a few dozen keywords".
A lot of these pages, possibly most of them, have very little unique/exclusive content. Instead, they list out features and uses from a database. Because of this you have many thousands of pages all with the same potential pool of words, each choosing to show more or less the same words in various orders and combinations. Furthermore, it is obvious that the pages are generated by a machine. Looking at this example, a "better" page would be one that has an introduction telling the visitor what "Polybenzimidazole (PBI) is and what it's used for in paragraph form, in addition to the list of features and uses: http://www.###.com/###/ . I'm sure most of your users will know what PBI is for if they search the site for it, but remember we're dealing with machine algorithms designed to detect spamming attempts, such as article spinning, which uses pretty much the same technique of switching around the order of words to generate hundreds or thousands of "articles" from a single original.
I wouldn't venture to provide specific advice on how to fix these issues without knowing more about your business. My suggestion is to look for a reputable outside SEO agency who can help you overcome these issues, which may involve removing a lot of pages from the index, allowing more content to be seen on each datasheet, or some other measures.
Good luck!