Velvet always shows as rapid breathing and not eating, many times there are no spots at all because the infection is localized in the gills. Maine Velvet shows less as spots, and more as a dusty sheen, sometimes with sort of glassy eyes. Freshwater velvet is a different species and has more distinct spots. A bunch of photos here that are labeled velvet are really just ich. I’m working on fixing them….
Looks like your treatment is working. I’ve had luck with ruby reef’s ick treatment - kick ick. Didn’t mess with my corals or inverts that I recall. It’s been a few years since I’ve used it. I didn’t used the other treatment they have so I don’t know about safety on them.