For those who may not frequent the chemistry forum and missed the thread there, this case has apparently been at least partly resolved, with Underwater Creations now registering as a pesticide producer and getting approval from the EPA to sell Vibrant containing 3.5%...
www.reef2reef.com
Long story short, Vibrant is an algaecide that can be purchased for much cheaper under the name AlgaeFix. The company that sells it also knowingly or unknowingly lied to everyone calling it a bacteria product for years until it was discovered by R2R forum users that it was indeed an algaecide, not a bacterial product.
Will it mess with your corals? Maybe, maybe not. It can mess with nutrient levels which can affect some coral species more than others. It's classified as a molluscicide and it can mess with or kill your snails.