You can also add phytoplankton, rotifers, copepods, baby brine shrimp, etc, which you can culture yourself with a little work. Personally, if you're going to add a supplement to your tank you should have a test kit that can measure what that supplement is doing to your water parameters.
Some people add iron to their tanks and see some added benefit due to increased macroalgae growth. Check out
http://www.advancedaquarist.com/ as well as their article archives and check out all the Chemistry and the Aquarium articles.
Shane