Sounds good. I actually stumbled into this by accident. I never had any nitrate, and I was never concerned. I just figured that is what the corals looked like. I moved the tank 50 miles and had a small nitrate spike (about 1 ppm). Within 10 days these corals started showing color like I hadn't seen before. The bonsai wasn't the most improved in this, but I didn't have any before pictures of the others.
I've had a similar "color spike" from a massive calcium overdose - at least 700 ppm, IIRC. Would be interesting to know why.
FWIW, I've read that tissue on corals like Montipora can directly absorb nitrate....cannot remember or find the source currently, only lots of forum threads of people speculating about nitrates and corals. Dang brain/stupid internet! So I wouldn't be surprised at all if a very low level "spike" (that was a laughable spike, btw....hahah) was indeed beneficial to your coral.
I'd be pretty careful about throwing random chemical nitrates in the tank to boost animal health - some are surely better and worse than others, but it's hard to guess which or why.
If you want to experiment, here's what I would do: get some organic blood meal (lots of carbon atoms, 1/3 that amount of nitrogen, a very small amount of iron, good amino acids, vitamins, etc, but
no phosphates), from the garden store and dose/feed a
tiny amount into your tank, following up with nitrate testing and tank watching so you can observe any changes in the water column. If you don't get the change you are looking for, add more and re-test. Repeat until you register a change in nitrates
Fish will probably dig eating it, corals might eat it if you powder it down, bacteria will certainly digest what's left....in any event you wind up with higher nitrates and some bonuses - carbon dosing, an iron micro-supplement, etc) - while adding almost no phosphates or anything else. Can't emphasize enough to start small and go slow if you want to try this. I looked around a bit and this is probably a new idea - we'd be on the cutting edge in trying it. (This means it could turn out to be a terrible idea too, of course.)

I have not tried it yet, but if I were a carbon doser I'd sure be considering it. It seems like an almost ideal solution. Working out some idea of a correct starting dose would require a bit of time to research, but could probably be done by working backward from blood meal's N

:K number.
Food for thought!
-Matt