To be honest, I doubt it. It may help a bit, but it's only touching the symptoms.
Heat is better addressed through evaporation. Fans over the water surface, and fans in the canopy if you have one, make an amazing difference.
Algae blooms are more likely indicative of a nutrient buildup or imbalance. Lighting may play a factor in algal growth but it's not the only variable. That said, I found that a dinoflagellate bloom, if you're unlucky enough to get one, can really only be addressed by taking away the light altogether for a period of time (at the potential peril of other light-needing organisms). But for hair algae. ... it probably won't help much. (sorry)
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-- Tony
My next hobby will be flooding my basement while repeatedly banging my head against a brick wall and tearing up $100 bills. Whee!
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