I bought some and really couldn't tell you if the coral liked it or not. Now I just add it to my homemade fish food when I make a new batch. The corals are always polyped out then anyway.
I started using it weekly about a month ago. It's too early to tell if it's doing much but I don't think it has any negative affects. I will say my lyretail anthias go nuts and try to eat the stuff, it's rather humerous watching them gulp up the water like it was chunks of food. I'm not sure if it's the smell or just that I feed them from the same turkey baister.
Ive always prefered frozen or home made food over feezedried. It gets a feeding response better IMO, plus all them natural juices helps feed small polyped corals, I doubt Reef Chili is small enough in particle size to do so.
