I used a similar product, " Red Slime Remover" by Ultra Life, maybe the same stuff. It worked great. It was a poweder you mix with a bit of tank water then just pouor it in.... it was fairly expensive as well, about $30 but I still have lots left for future use if neeed. It is supposed to be invert/reef safe, I hd no ill effects. Also discolored the tnak for a few days but I was very impressed with how well it wrked. Been a couople of months now and have no sign of any Red Slime sice :) Great product !!

update
 

Well, I lost the battle but not the war. I siphoned the cyano every other day and it has still came back. I went out and got some Red Sea-red slime remover and did a double dose as recommended. There is no mension of a water change in the intructions though. I was going to do a 25% to 27% change tonight, hopefully that will be enough! Thanks for your help everyone.