I don't know about algea problems.
But... I used a very large piece of dead coral skeleton with live rock and it didn't take to long to grow life - 3 years later the rock is filled with mini-brittles, coreline, worms, etc. Actually, it's been one of the best peice of live rock in my tank.
I would imagine it would take much longer to age your tank - 18 months to 2 years before coral, but don't know. I guess that depends on is your are starting with 50/50 base/live - that would seed much faster - or 75% base and 25% live, that would take much longer.
Anyone with direct expereince here?