I use Purigen, phosgard, and carbon. This sounds like a mix of a GFO substitute like phosguard and a HQ matrix carbon. Though I don't know if there GFO substitute is Iron Or aluminium based.
I would say replace every 30-45 days. Use only the amount the manufacturer recommends, as more will not mean better. As this is a mixed product it is only good for as long as both components are viable. Using combo products usually you end up terminating one component early or late. So there is often more waste of this product. But it is convenient to just buy one thing and replace one thing, it does come with a monetary cost.
Make sure to rinse it before use for at least 2 minutes before placing it in the tank. It doesn't need to be rinsed again just thrown away when it no longer produces results.
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PS. I am a fan of Purigen because it is a buy once product. 2 100ml bags will last years. It can be cleaned and re-used. It is also easy to tell when to replace as it goes from white to light brown, to dark brown.