Does anyone know if rust in the aquarium has any impact? I just moved my tank over the weekend and found that one of the magnets on the inside of the frag rack came right off and was rusted.
It could, depending on what metals are being released. I'd remove the magnet. if corals seem fine, I wouldn't do anything. If they are suffering, I'd use one of the metal binding products (metasorb, polyfilter, etc.).