I do not recommend adding any products such as that to your tank. Inhabitants are often affected, especially shrimp, and some products are also bad for your plants.
Having sufficient levels of CO2 will go far getting rid of your hair algae problem. Regulating lighting levels will also give you more room for error with your carbon dosing.
I'm guessing that phoslock is a phosphate reducing agent? I wouldn't recommend it either, as your plants use phosphates. You should be adding this along with other macro and micro nutrients to your tank.
What are the specs on your tank (ie lighting and co2 levels, fertilization regime, etc)? This will help us diagnose your problem.
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