I've never noticed the tank being any sparklier after using it. Peroxide Loooooooves organics, but theres ALOT of organic material in a tank, probably so much that to noticeably decrease it in the water column for more than a few minutes you'd need to be dosing enough peroxide to kill all your fish and corals. There's also a lot of complex organisms with cells filled with peroxidase whose sole purpose in life is to instantaneously break it down in to water and oxygen on contact.
What it does do at relatively low concentrations is inhibit the photosystems in cyanobacteria - Something about the structures they use to photosynthesize being particularly sensitive to reactive oxygen coupled with poor metabolic pathways to eliminate it, likely related to the fact that cyanobacteria evolved when the atmosphere had very little oxygen in it or something. There's lots of cyanobacteria in tanks all the time, just not necessarily in the nasty biofilm form that people post about when it gets out of control. If there is low levels of cyanobacteria in the tank staining the water or causing rocks and sand to have a darker colour or stick together, dosing peroxide might cause a noticeable change in the visual 'cleanliness' of the tank - but that's a wild guess based on a totally unsupported assumption.
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