I think everyone is not really paying attention to what really matters here. Just looking at the trees and not the forest.
How is the fish doing? Is the Arowana or other tank mates acting out of place or strange? Showing signs of distress? If not by doing these water changes are you not disrupting/prolonging the mini cycle thus possibly harming the fish in the long run? It is good that you are diligent at knowing such parameters but this is where you have to look at your fish as well, are you sure your test kit is up to snuff? Is it possible you are getting a false reading? Just adding the LFS water to your tank should not throw your cycle off, unless it was heavily medicated and you added a lot of their water.
If the fish is not showing signs of distress I would be most inclined to NOT do the water change, but maybe add the prime or other product to neutralize the harmful effect of the nitrites.
Just remember when you use something like prime it doesn't remove it but makes it safe for the fish, so you will still have readings until your bacteria has a chance to catch up. Bacteria will catch up and take care of this problem, if the fish isn't bothered then I wouldn't worry so much maybe cut back on feedings for a few days too. This will help reduce fueling the issue.