Being a little over-technical, maybe, but:
Plants do not "go into reverse" at night; they are respiring (using O2 and releasing CO2) all the time, just like animals. But a healthy plant, when exposed to light, is a net producer of O2 and a net consumer of CO2. When not exposed to light, photosynthesis stops and only respiration is occurring, so they become net producers of CO2 and net consumers of O2.
That may have been what you meant, but I just thought I would clarify.
This is a good explanation.
Try this experiment; Cut all available light, including ambient light by blanketing the tank for 7 days. Uncover and you would be amazed at the jungle. This proves to me that photosynthesis does not completely stop as long as there is a source of available nutrients in the water column.
Good question Zeta!