Thanks Randy, while the study was done on Padina boergesenii, the same principals and findings may apply also to chaetomorpha.
The chaeto is looking a little more grey today but the copper appears to completely removed (except for trace levels I suspect) according to my Seachem test kit.
So the last question I think, which is really just reasking the original question, is dying chaeto toxic to the tank? If it's just going to fall apart and be caught by the mechanical filter then I'm thinking I'll leave it there in case it comes back. If however it's truly toxic, then I'll certainly pull it out and try again in a few weeks.
Phosphates are down from 0.35 to 0.32 per the Hanna checker.