Hi all,
It is only really relevant for iron (Fe), the other lighter metals (K+, Mg++ etc.) are relatively lightly bound by a chelator.
If the de-chlorinator you use has EDTA in it, and Iron in solution in the water column (Fe2+ or Fe3+) it will bind the iron ions, and these will displace any other cations (K+, Mg++ etc.). The iron will then become available over time as the ligands that chelate the iron ions (think of them as like "velcro") are unzipped by light (they will "photo-degrade").
So the answer is it will have little effect, the down-side of this is that if you had a water supply with heavy metals in it, and these had been de-activated by the chelation agent, their ions would also be displaced by the iron ions, and would become toxic again.
cheers Darrel