I can never forget what the late Adelle Davis wrote about taking any single B vitamin, especially long-term, she wrote it would cause an imbalance of the other ones so the whole complex (11 factors or more) should be taken as well, so it's a possibility such a high amount created a deficiency of several other B vitamins and that can cause hair loss. Dr. Atkins I believe also said something about taking any single vitamin only for short periods of time.
But that's one thought, after years of participating in a thyroid forum I noticed that a lot of women who took Synthroid had more hairloss. I myself had very minimal hair loss prior to being prescribed Synthroid many years ago (which could have really been progesterone lack) but it got more noticeable afterwards, it also raised my b/p, made me gain weight and did absolutely nothing for me, I'm one of the (majority of) women who responds better to a T4-T3 combo. But of course, if you had no hair loss until taking niacin, the weight falls on it as the culprit.