Why is the sun's magnetic reconnection effect many orders of magnitude faster than predicted by standard models?
We don't know for sure.
If we knew the answer, then we'd have a new standard model and then the reconnection speed would be nicely comparable to what's predicted. (zibadawa timmy)
However, the typical models of magnetic reconnection do not account for the extra resistivity that results from small-scale electromagnetic waves, which can be upwards of ~12-15 orders of magnitude larger than that caused by Coulomb collisions. (honeste vivere)