Since CO3 is carbonate, and carbonate is a constituent of alkalinity, this would be increasing pH by raising alkalinity.
In a reef tank there are only two factors that impact pH. Alkalinity and CO2. If you know your alkalinity and your pH you can calculate the CO2 in the water. In the same way, if you know your CO2 content and your Alkalinity, you can determine your pH. No other factor is significant.
The only reason fresh air works to raise pH is that fresh air should have less CO2 in it than stale air in your house.
As for how much pH impacts coral growth, that is hard to say. The difference between 7.5 and 8.4 is probably pretty large and will make a big difference. The difference between 7.9 and 8.2? Probably no something you will notice. There are many other factors that will impact SPS growth in a more significant manner than pH. I believe flow to be the single most important thing to get right to grow SPS. 2nd would be stability, especially with alkalinity. I would try to keep alkalinity within a 0.5dkh range for weeks at a time. 3rd would be lighting. Not even sure I would call pH 4th. I would make sure I have the other factors right before I stress pH too much.