I have used Excel for over 20 years without issue. I do not use it to treat algae, I do not overdose it and I only add it once a week after a water change. I also am not a big fan of Seachem ferts. I am a big fan of Tropica ferts and have used them even longer than the Excel.
http://tropica.com/en/
The two ferts. from Tropica are one which is comprehensive and the other eliminates the Nitrogen and Phosphorus.
Premium Nutrition has all the required micro nutrients and is recommended for all plant aquariums.
Specialised Nutrition further has macro nutrients and is suitable for aquariums with many plants.
I would go a bit further with when to use what. Heavy planting with light stocking means I use the Premium because the fish do not make enough nitrogen etc. The same level of plants but with lots of fish means I only use the Specialized since the fish are making the macro nutrients. In some tanks I use a bit of both ferts.
Working with the two ferts you will get a pretty quick idea of what any tank needs. The only time I would consider adding ferts more than weekly is in a high tech pressurized co2 added tank with high light levels. I had one of these for 10 years and it was lots of work.
Here is a tale of fertilizing woe. I have kept clown loaches for many years. They stared out in a 75 gal. Not long after I had the tank going well, I developed an algae problem. Every week the plants would gather more algae. Nothing I did changed this. I did some nutty things to deal with the algae and nothing worked. Then the 75 leaked and I upgraded to a 150. I moved everything from the 75 to the 150 and added more of everything.
It was not long before the algae was even worse in the 150 that the 75. Over the years I pulled plants and bleach dipped them. I scrubbed anubias leaves to remove algae. Nothing seemed to help. And then a light finally went off in my head. This tank only needed micros added. I had underestimated what the fish contributed to the fertilizer needs for years. I stopped adding any nitrogen or phosphorus by eliminating the macros. And after 20+ years of battling red algae, it was mostly gone. It has been better for almost 2 months now.
Planted tanks have a learning curve just like everything else in life we have to master. And because of the huge variety of plants available to hobbyists, every tank is unique and it takes time to learn what the proper balance of ferts, light and co2 is for each tank.
A good rule of thumb is to start at the low end of dosing things and if that is too little, increase the dose some. The plants will tell you when they are happy or not. Also, it is important to research plants just as we do with fish to make sure they are a good fit in a tank.