gcnp58.
I did not begin to understand all of what you wrote.
But when I see that adding nitrate does not change pH much, no, of course not. What it does is convert carbonate, increase the amount of CO2 in the water, ready to escape. And as that increased CO2 hangs around a bit we get increased acidity from the CO2. the CO2 build up does move the CO2-carbonate equilibrium locally to greater acidity.
The Blue-green algae provide excess nitrate available to other plants which grow in the air-water interface, grabbing CO2 out of the air and when they sink into the water and decompose, they release CO2 into the water. No big problem. But what the decomposition does is absorb oxygen from the water to such an extent that we get ocean dead zones, where animal life can not live. Animal life can tolerate the CO2 but not the low oxygen levels.
But the decomposition leaves CO2, Sulphate, Nitrate, Phosphate ions plus all the other fertilizer components in enriched mode where they decompose, allowing for ongoing growth of more excess plant life.
My evaluation of this process is that earth has seen this happen before, when large volumes of plant material, too large to be decomposed by available oxygen, have sunk to the bottom to form our oil , coal and gas deposits.
When we get moderate areas of dead zones, I expect we are approaching the stage when dead zones predominate, and the oceans become our main repository for CO2, sequestering it as newly formed fossil fuel deposits.
We do not have a lot to do with this other than perhaps harvest that excess plant matter before it sinks into the seas .
We can not save the ocean animal life by using herbicides, by preventing phosphates or nitrates from reaching the oceans, nor can we change anything by adding limestone, simply because as limestone disolves it supplies carbonate ion, we can accomplish nothing by firing the lime to produce calcium oxide and CO2, because the CO2 will also get back to the oceans.
No solution then remains but to harvest the excess plant life and use it for fuel instead of coal and oil. That does nothing to improve the situation other than that we do not use the coal and oil, and the plant matter does not use oxygen from oceans. Plant matter thus burned will use oxygen from the air just as burning coal or oil would, so no gain or loss there.