I'm working loosely with Dr. Goreau right now on the Biorock process in a closed system. Yes, it works.
I am currently in the process of setting up new experiments to tightly monitor and document a control and experimental group of SPS corals.
There are many obstacles when using this in a closed system. For one, the anode material is virtually impossible to find, unless you live in India or Turkey. Another is that one of the byproducts of the process is pure Chlorine gas. Proper current and voltage is extremely important.
In our growout setup, this process may eventually yield nice results, but it wouldn't work in your 75 gallon reef in the family room.