What is happening to your trailer is called osmosis blistering. It is the result of a small amount of moisture getting into your wall. The moisture wicks it way out through the slightly porous fiberglass by osmosis until it reaches the impermeable layer of gel coat. The blister is formed and pops to let the moisture through. The first step in the repair is to reseal the window or roof or wherever the moisture is finding it's way behind the Filon. The next step is insure the Filon has thoroughly dried. Finally the damaged surface can be repaired.
If the source of moisture getting to the back of the panel is not eliminated the problem will reoccur.