Yes, you should be fine, provided there is sufficient biological media in your tank (live rock, and/or a sandbed, or even harvestable algae).
The downside to bioballs in a high-turnover filter like the CPR is that it is essentially a home for only aerobic bacteria. It is in anoxic conditions can bacteria can break nitrogenous waste down completely:
LR and sandbeds allow aerobes and anaerobes to sit next to each other --one kind on the oxygenated surface, and the other in the unoxygenated porosities/pockets of the media. Waste is broken down by the aerobes and passed to the anaerobes for more thorough reduction.
Having only aerobes working for you means the waste is not broken down completely: there is no one nearby to pass the partially broken down waste to, and the partially-processed waste, nitrate, can build up in the water.
Algae can and will utilize nitrate (and most any other nitrogenous waste). Sometimes the ugly kind of algae will, and then it is perceived as a problem. This is why some hobbyists 'farm' algae: each harvest of algae is discarded, containing in it the absorbed nitrogenous waste from the water.
hth,
horge
[ 09-07-2001: Message edited by:
dark horge ]