I've used it and was quite pleased with the results - it did make a slight dent on my hair algae problem, especially after I turned the lights out for a bit. However, I had to remove all my invertebrates from the tank because it's supposed to harm them (didn't harm the wild snails I have ravaging the tank, sadly!).
Pretty good stuff, but you still have to address the root cause of the algae problem, such as high nitrate or phosphate levels in your tank.