The biggest drawback to Sargassum in the refugium is its buoyant nature. It wants to float and you can see the obvious and inherent issue that may cause in a refugium. Depending on how your refugium is set up, it can clog overflows, shade all other algae below when forming a "raft", and provide relatively less surface area for nutrient uptake and growth than chaetomorpha, for example. Certainly doable though as far as I can see.
I kept some a few years ago. Slowly declined over the course of a month or two. From what I read that is typical. I might try again - it's an invasive species here in San Diego so easy enough to hunt down.