I've always been curious about cheato, never used it
I use Caulerpa prolifera in my refugium, works great. I have no skimmer and no carbon, nitrates are currently around 1-4 and have been for a while, ever since my tangs jumped out and I stopped overfeeding.
I've never had the Caulerpa go sexual, and 24/7 lighting isn't necessary, in my opinion. What I do is set my timer to turn on the lights for about an hour during 'off' time, while the refugium is on the 'night' period. That cures anything from going sexual.
Basically, there's a point where a certain length of constant darkness triggers a sexual period. If you interrupt the darkness with at least 20- 30 minutes of light, it keeps the algae cells from being told to go sexual.
At least, this is how it works for plants, keeping them on a vegetative, growing stage (asexual) vs a flowering stage (sexual), and I applied it to Caulerpa prolifera, and it's worked for about 4 years.
I do, however, have that slight yellowing of the water due to caulerpa. But I run 20k halides, and the blueish light seems to counteract the coloring for the most part. If we're having company or a party or something, a bag of carbon usually clears it up.
From what I've read hear, it sounds like Caulerpa grows faster than the chaeto, with the only caveat people have is the fear of going sexual and blooming. I can state that Caulerpa Prolifera has never done this for me, and I credit my 30-60 minutes of light in the middle of the night period on my macroalgae.
no skimmer, no carbon, no UV, no nothin'. Just a refugium and 100 micron socks before the 'fuge in my sump. Works great. truly low-maintenance. and I can poke the sand in my refugium and I get lots of nitrate bubbles, too. added bonus.
G.