Your plants will definitely love the carbon, as it is a C-fertilizer in first place. You will for sure not note any sideeffects short term - this stuff is used for years by now, so no worries. It's the long term - over many years, that I would be thinking of, if at all.
What plants do you have? let us know the light and nutrition(fertilizer), you may be able to surprisingly easy turn the picture around. Spezially once you add carbon now anyway. Get some root feeders, feed the roots directly - cover with fine sand, so the nutrition does not come out (Echinodorus, cryptocoryne, ...) and you will see, once the plants start going for it - the algae are history, give it up to 3 month though to get moving. What fish do you have? If you like we can go through step by step. What I do in quaranine tanks, I put a root-feeding plant with fine sand and fertilizer in a bowl or one-way (dark) coffe-cup. That makes ot easy to take out to return ton the main tank, and easy to service (remove leaves with algae, add fert's, ...). Covering the cup with stones and moss makes it invisble.
These are the fert.sticks I use, tested my setup by measuring water values (even a multible overdose scenario), once fish don't dig them out though. Certain parameters need to be watched! Let me know in case you wanted to go that rout and need details. Those sticks are also made for pond-plants.
http://www.compo-hobby.de/duengestaebch ... _5095.file
Any good substrate fert. should contain a composition close to the following (amounts may vary, but proportions should be close), please be aware the below is very high dosed (compared to typical aquarium fert.):
11 % N
4 % P2O5
8 % K2O i.m.o could be even more
2 % MgO not may fert's contain that, but it's good to combine Mg with K
5,2 % S i.m.o. not important, and also does not show on my packages
*
0,25% Na ??? NOW, THIS DOES NOT SHOW ON MY PACKAGES never found Na in fert. ingredients of that nature (perhaps a typo?)
*
0,04 % Cu IMPORTANT not to have too much here!!!
0,1 % Fe
0,05 % Mn
0,01 % Mo
0,04 % Zn
* I will contact COMPO re this, sorry about the confusion this may create.
EDIT: COMPO has just called back and explained that Na is an ingridient necessary for plants to "take on board" certain components. S and Na have not been shown on the ingridients list for Germany as it is not necessary, however S and Na were shown on a different part on the package (claimed under "starting substances"). I am impressed by their service.