I've never heard of using Formalin in anything but a temporary dip. I beleive formalin is basically "formaldehyde" so I'm afraid this could have a very bad outcome. Run large amounts of carbon, continue to do water changes maybe.
It might even be better to remove the livestock to a new system. See if the store that sold you the formalin can help out with that, at least with the fish and anemone.
Good luck.
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-- Tony
My next hobby will be flooding my basement while repeatedly banging my head against a brick wall and tearing up $100 bills. Whee!
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