Purpose: To enhance fish coloration when you enjoy the view of ur tank... the underwater light simply makes the fish and tank look a lot prettier, maybe because the light spectrum it produces (I have no idea). And, it works on any fish, not just aro. Tanning wise, all high intensity light will help on tanning the aro... so more light = the better ( for this specific purpose) ... however too much lighting or "un-balance, not even" lighting may result (may not) drop eyes and fish swimming funny...
how to use it properly ? Just use it whenever u feel like to, no definition for it... constantly checking or relacing the part will greatly reduce the risk you mentioned above.
I only turn it on whenever I view the fish..... ( I like my fish look red, even they aint red at all...)