Hmm, it might work, but I'm a bit skeptical. You could ask in the chemistry forum. I would ignore the part about fewer water changes, for sure. Nitrate is not the reason to be doing water changes in most situations.
as lot of ppl say it doesn't work. i say it does and along with a couple other in out club have had good results using it. i have been battling 40-60ppm nitrates for along time then tried this a few weeks back and i am now down to 5-10ppm same with a few others. and i haven't changed any of my other habbits on my tank either.