iv been looking into this subject of man made live rock and iv currentley got a bit curing in water (should be ready any week now)
in every guide iv seen it has said that the cement just on its own is no good, it needs to be pourous for the bacteria to breed and live, if ya can get ur hands on some crushed oyster shell and mix a bit of cement with it (around a 25 % cement to oyster shell mix is what iv used) and it looks ok, still a little gray but it should be well covered up by the time its fully seeded. there is lots of info available on the net if you go to google there are also some users on this forum that use it and have had good results, if time is not a factor it may be woth ur while making some live rock (and plus you can make more intresting shapes,caves,boulders ect ect)
if ya still want to try ur piece of cement let it cure in the toilet cystern for a few weeks then put it in a bucket of water, test the ph of the water on the day you put it in then after a week test it again, if there is no change in the ph then it normally means the curing process is over and its time to seed the rock (thats what takes time !!!!!)
Cj