Dag,
Mine is mounted inside a 7gal Tunze Reservoir (Bucket), connected to a 3155 Osmolator. With this setup I am actually hanging the bracket over the side of the bucket and have the 5074 Dispenser touching the bottom of the bucket. As soon as I get everything under the stand placed, I will be drilling a hole through the reservoir to permanently mount the bracket.
The 5074 Dispenser does not seem to be negatively impacted by reservoir water level as long as the pump that came with the Osmolator is set at the proper voltage for the tank top off height. As Roger indicated, the water level in the tank drops, the 3155 turns on the pump, the pump flow stirs the calcium hydroxide, and forces the higher pH mixed water up to the tank/sump. 7-14 days later, add more calcium hydroxide to the 5074.
I am not aerating my top off water, but I am adding about 1/2gallon back to the reservoir every morning.
I am very happy with the 3155 and 5074 combination. Simple, rugged, and seemingly fool proof.
fwiw: This tank holds approx 70gal and is not connected to my mainsystems. Equipment consists of the Reef Pack 500 (3155, 3130/2, 3166, 1600/2), 3174/3 Calcium Reactor, 5074 Dispenser, 7074 CO2 Controller.