Yes, there is such a thing as too much kalk. It raises alkalinity. Also, if it gets blown around the tank it will burn whatever it touches. If you use a LOT of it, yes, you might need to do a water change but otherwise it's not dangerous. I would just avoid using a lot of it.
For hydroids on corals (are you SURE they are hydroids?), you will probably have to manually remove with tweezers.