The pinholes are a deficiency, maybe potassium. The top growth looks like natural color change along with crumpled new growth, which is caused by a few things. It could just be acclimation as Texan stated, I personally just watched newly arrived rotala stems do this in my tank, and for a day or so the new growth was crumpling into a slimmer form, and changing color according to the new nutrient and light source. This all comes from what I can see in the photo but obviously can't see them in person so take it with a grain of salt.
Another reason for crumpling is calcium deficiency, if you're low on GH and not adding a booster, you may very well be deficient in Ca Mg and K.