Something I've been curious about is the overuse of this product, if that's possible. For instance, both my 1500lph filters are filled with Matrix, and I do weekly water changes with Nitrate at 20-40ppm.
The fish are all juvenile save one male Red Empress, and ammonia is at 0ppm. At this stage I don't think their bio-load makes much of a dent in the Matrix supply, though this will no doubt change as they grow, especially given how many there are. When this happens, I'm curious if using so much Matrix will mean oxygen supplies are deleted by the time the water hits the third section of the cannister filters - it seems to stand to reason that with Matrix making claims of being capable of huge numbers of bacteria, than these bacteria would consume a huge amount of oxygen to the point of creating an anerobic environment in filters that have relatively slow filtration compared to Matrix media volume. Setting the filters up in a serial formation, so that the water flows from one direct to the other and then back into the tank, is an interesting consideration in regards to this.
I'm currently designing a de-nitrate filter using SeaChem's de-nitrate product, which appears to be the same as Matrix though 50% smaller in size, aprrox 8mm diameter, and requiring a flow of less than 200lph to be effective. I think the smaller size is designed to make the product fit more tightly together to decrease water and oxygen flow, as opposed to Matrix or Pond Matrix which seems to be designed for greater flow. Matrix is about 12mm in diameter and Pond Matrix is about 17mm in diameter, if that helps regarding the theory about penetration of oxygen, and using it over the years hasn't led to a decrease in nitrate levels that I've noticed.
My guess is that whilst Matrix is capable of removing Nitrate from the water, it requires special conditions not listed on the package - this being a slow flow to create an anerobic environment, which can be achieved through a slow nominal flow or else high volume to flow ratio.