I'm not sure about its effect on the water, but its very light compared to other rocks. The rocks are very porous. They are a good choice if your trying to make a cave or stack up rocks to create a certain effect. Would you rather have a light rock or a heavy rock fall on your heater or against the glass?
The main function of lava rocks are their unique look. Thats the main purpose of most types of rock.
If your looking to set the ph with rocks, then look for a rock indiginous to where your fish live. That will be the easiest way. Rocks most beneficial for ph control when you need a ph far from your tap water. So unless you need a ph of 6 or 8, then I would just find some rocks that look nice. The normal tap ph is 7, but it does depend on area.
The stuff they use in the grill is charcoal. I wouldn't use it, but maybe its safe. I'm not sure about it. But many commercial products do have addatives. And BTW, you already have charcoal in your tank. Its in the filter media. Its good for taking in unwanted chemicals from the water.