Initially it is H2O2. It very quickly breaks down into H2O as it is not very stable. This is why I keep it refrigerated. I will for a very temporary time add oxygen to the water, but it is not a scheme to rely on. Physical aeration/agitation is much more economical.
Making nutes more available? That is news to me... Plausible. But I feel it could be due to the extra oxygen in the water. H2O2 is best for killing bacteria, harmful as well as beneficial. It is an absolute necessity to treat root rot IMO. In my hydro system I use it every week or so. I don't grow hydro organics so it really doesn't make a difference to me.:bong: