I know someone who uses it for dosing. If you look on one of Wasserpest's DiY dosing threads I think he tried it as well.
2 things are problems with it, if I recall correctly:
The head pressure drops greatly, meaning you only have a certain amount of depth you can place the pump before it doesn't have enough power to overcome gravity.
Also it's hard to get an accurate measurement of how much will go into the tank. If you change the depth of the pump below the water line, the amount pumped in 1 minute (I'd assume you would use an electronic timer if you would try this) changes. Apparently it can also be a big volume as well, which is more difficult to do. The person I know who does this uses the airline regulators to adjust the flow of water, it took him a while to get the amount of ferts he wanted to be added in 1 minute.