As far as I can see it does not effect color at all.
It's a bit harder to say on the slime though because I have noticed that some corals seem to slime and some don't. Living where I do just about all of my SPS have been shipped so they are somewhat stressed already. If I had to hazard a guess I would say that the dip does not seem to cause the corals to slime more than they would have anyway just given the stress of shipping and being introduced to a new system. I have been using the dip on all my new corals that I have introduced in the last 6 months or so. I will try and post a picture in the next couple of days of my SPS tank so that you can see the colors. Most, if not all, have colored up nicely in about a month or less. HTH
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