Yes, it does effect chemistry for a few days also it tends to just waterfall.
I did what your asking. It wasn’t pretty but I managed to secure things. Hind sight I would have used epoxy. What happened to me is my Alk jumped from 8 to 10.5, my PH also jumped. The mortar would basically disintegrate in a downward motion like a waterfall would look. If you use enough it does work and enough will stay together. Also it clouds up the tank allot. If you go this route, shut off all the pumps during the initial cure time. Also run carbon afterwards.
Hindsight, I would pull the rock out. Mortar it together and let it dry for about an hour then let it cure the rest of the way in the tank. Do a little at a time. While the rock is outside the tank just spray it with salt water every 5-10 min to keep it alive.
I had no casualties Coral or fish so that’s a plus.