Aragonite sand = finely crushed coral, they are all dead CORAL of some sort.. All aragonite based sand will dissolve at the same PH, but due the the amount of surface area on each "grain" of media, smaller grain sand will dissolve faster when compared to the same amount (weight) of coarse sand or crushed coral. I personally think it is cheaper and more reliable to use baking soda for buffering the tank. Counting on sand dissolving naturally at a correct rate (or enough) to buffer the water sounds crazy.
Not sure how a 1" sand bed of any grain size can be anaerobic in a reef tank with water flow, fish, bristle warms....
You should choice your sand size and depth based on the need of your intended tank inhabitant.