Aside from feeding my fish and the infrequent water change, I add nothing to my tank other then calcium (in form of Ca(OH)2 and CaCO3).
Iodine is utilized by organisms for tissue developement and maintanence. However, the foods you feed your tank and the water changes you perform will constitute enough iodine to sustain your corals and any other organism capable of assimiliating nutrients via absorption.
It's my opinion that these chemical additives are not only unnecessary, but may do more harm then good. Why? We add chemicals arbitrary, at the manufacturers' blanket instructions when, in fact, the manufacturer has no way of ascertaining the needs of individual (and very different) systems; one instruction should not be applicable to all reefs. The manufacturers neglect other variables like biological demand and interaction of additives with other additives, compounded by the fact that we don't test for levels of these elements, importing them blindly.
Personally, my tanks do great without specific additives.
BTW, take anything your LFS says with a grain of salt. He's got vested interest in selling you products, whether necessary or not, good or bad. This is true for any consumer product.