There are some who swear by it. Ive never used it because ive lucked out with other methods i have described along with "spot" treating with excel. Id pour my dose into the cap, cover the cap with my palm, and release the excel on top of the infected area. Ive always been skeptical about using hydrogen peroxide with all the mixed comments on personal experiences regardless of what mistakes were/were not made.
As for your other plants....
First of all id like to say that this is advice to be taken into consideration in making your own decision and in no way would i be comfortable instructing someone to spend their money only to be left with an unsolved issue.
BUT
If i were you, for the health of my other plants, id replace my bulbs. If youre using co2 make sure your co2 hasnt run out as that is also a common recorded cause for BBA. If you arent using co2, consider using excel as a carbon source SECOND, and spot treating the BBA as priority ONE. Because i can say that does work.
Since i havent used hydrogen peroxide i cant answer your question relating invert health to it. Ive only killed one shrimp by my own doing and i wasnt paying attention and dumped a bucket of water ontop of him
Thats what I would do.
- St Charles Almendras Geraldizo