Product Claim Regarding Chelation

http://sure-life.com/pro_PLEASE_RELEASE_ME.html

Can a powder remove heavy metals from water?

This product is for fish livewells. Livewells are used in bass fishing boats to hold fish so that they stay alive. It's a tank of water that is aerated so the fish can be safely released later.

The product, "Please Release Me", is a live well additive. The maker claims:

Quote:

With superior dissolving capabilities, improved calming effects and an overwhelming ability to remove both heavy metals and pesticides (both of which can be especially harmful in coves or canals),.....

Overwhelming?

I saw their ad on a fishing forum I frequent and thought it sounded a little like BS. I started looking up heavy metal removal and decided to just write the guy.

I asked how they remove heavy metals with their product, which appears to be a powder. I was told the method is called "chelation"

I looked up chelation on Wiki. I read that it can bond to this and that and allow the metals to be excreted (I'm obviously not a scientist). Doesn't sound like it actually removes them, at least not from a tank of water. Where do they go?

Can a powder remove heavy metals from water? Does this sound legit?

ETA: While I'm at it are any of their other claims...fishy?