Does it also absort the benificial trace elements when it absorts NH4,NO2, NO3 and PO4?
I would not count on it binding much in the way of ammonia, nitrite or nitrate. It will likely bind organics and phosphate.
The organics in binds will themselves be bound to certain metals, and you may export those, but I'm not sure that is necessarily a disadvantage and I would not dose any different just because you use it.