The heater is unlikely to be the problem if there was water movement in the tank and the leaves weren't actually touching the heater glass.
Low light or low nutrient levels could cause it. Probably the low light.
It might have been grown out of water in a hydroponic setup and when put under water it is shedding those leaves and will grow new ones at the top of the plant.
rotala macranda is a red plant and they usually need a bit more fertiliser and light than green plants. It might be an idea to add some iron based liquid plant fertiliser to the tank if you want really good results. "Sera Florena" is a good one to try.
depends on if the peat is under the gravel or resting on the gravel and covering the base of the plant. As a general rule it should not be a problem but it will drop the PH and that could be stressing the plant.
light will be your main problem, try planting each stem in 3's then more light will reach the bottom. the 2nd problem will be co2, it wont survive without co2 and finally ferts, a decent quality fert is needed.