ORP has been very useful to me in monitoring for when its time to change the water. Ive ran tests on experimental systems and heres what i found. When the levels were getting high, above 550, the corals would stay more closed and have a "thinner" skin. This would cause them to tear very easily or bleach. There were more traces of Cyanobacteria as well. When the levels were below 200 this would also happen, but with less bacterial outbreak. Now keeping level as possible made them seriously healthy and the sand an rock was clean as can be.
To level the ORP is much easier than using Ozone, infact a skimmer, an algae scrubber, or a huge refugium, and water changes would keep these levels where I wanted them and using less or more of the O2 producing mechanisms accordingly.
I also found that when ORP is at a stable level, the nitrates can spike and be much less harmless than if you have a fluctuation throughout the day greater than +/-50.
This was tested with blasto, wellso, Duncan, zoas, cabbage leather, button polyps, Xenia, sea whip, and a green goniopora that is still alive and thriving today. The tank was a 75g under halides with a 30 gallon UATS on its own controlled plumbing and a 220g rated skimmer. 50x turnover rate for pumps and powerheads.