I have read that they do have chemicals released, so I run carbon quite freq but I have not noticed that the chemical warfare that is supposed to keep other organisms in check actually works for them! They intermingle quite nicely.
But, if you are considering planted, consider all the other genus. There are thousands of green, red and brown marine algae species. I know in FW planteds, they use red as an accent or focal point, but we have so many more choices. Using the different hues and textures, our possibilities are endless for creating an aquascape with massive depth and interest.
I think
Caulerpa is a great genus, with many species to assist with adding depth, but there are so many others to use as foreround, focal points, and framing species.
Watching and foo-fooing a reef tank is fun, but changes happen so slowly. I would not give up my reef for this tank, but having them together does give me the best of both worlds. Corals grow so slowly!
Plus, FW plants look a bit drab compared to marine algae! (I hope there aren't any FW people here)
Having the tanks together, I cannot grow bryopsis. I know that sounds weird, but I think it would be great to use it like the FW guys use moss. But, it will not grow at all. I've tried it 3 times. Sucks at competing..
http://www.youtube.com/watch?v=73WnJLnUNMc