Are you talking about phytoplankton? Not at all. Don't like the excess nutrients. Are you using it to feed corals?
Not really needed IMO but I know some people think it helps them. I really think all that most corals need is fish poop, dissolved organic compounds and light. Some LPS can be fed ( I spot feed my duncans, plate corals and occasionally favias) but larger food like mysis work fine for them. Maybe some of the other guys on here use it and can chime in! I would recommend watching your NO3 and PO4. Consider decreasing use if pest algae become problematic.
I won some at Reef Fest, and can't really tell that it is doing much. I do feed Reefroids to my tank, and get a really good feeding response from a lot of corals.
It was always my understanding that it fed other tiny critters in your tank that your corals and fish could eat like pods and stuff.