Tempted to say in that particular case something has attacked the adhesive holding it on encouraging it to let go, or dissolve. Perhaps the frame was too big so was shaved down a bit, exposing the edge of the glue, and something has since affected it such as the solvent in the mastic, moisture from somewhere erc
Also judging by the way it's rippled the window looks to have settled downwards a little but the loosened wrap has remained adhered to the brickwork via the mastic, so it's pulled it into that odd angled pattern.
As for what to do about it; nothing, or overclad it with a bit of brown trim if it bothers you. I think you run the risk of making it much worse if you try anything drastic.