"Chinese Algae Eaters don't really eat Algae. Their sale should be banned. Just get rid of it... it WILL attack your other fish."
Yes they will eat algae ,it is thier primary diet however they are agressive toward many other broadsided fish and perfer the taste of the slime coat to the algae. with proper care they are a very nice fish and can grow upwards of 20 inches . Provide enough hidding spots for your other fish and try crumbling the wafers into much smaller bits, even at half or quarter they may still be to big for it.