If you use CO2, it will basically drain the tank of CO2. It forces it to the top and pop goes the CO2. This will drastically slow the growth of your plants.
The plants will give off O2 and usually in most planted tanks I've seen, the plants give off enough O2. If you remove the wand and you're fish swim normally, you're plants are doing it. If not, and they are up at the top of the tank gasping, then you might want to put the bubble wand back.
Typically, in most cases, the bubble wand negates the CO2 and oversaturated the tank with O2. Hope this helps.