It can be used for nutrient export, if you get it to grow quickly enough. What seems common with reefers and this algae is that it will grow very well for a few weeks, and then quickly dwindle away. It seems to like lots of light.
It can be a pest on live rock if it sprouts up from it. A lot of herbivores find it tasty though, so it is more often than not easy to control without manually removing it.
>Sarah