I wonder if co2 can be a limiting factor in some of these setups. People actually dose co2 in grow rooms and in planted tanks to encourage growth.
I would be more concerned with how much effect the CO2 would have on my overall tank pH. Granted, we did find the pretty significant pH increase from the O2 produced in this testing environment, on a real world application like a reef tank, the CO2 may drive pH down more than the refugium raises it. It is definitely an interesting concept to test out! I'd be excited to know what you find, if you end up trying it out!
-Randy