The ozone will get converted to oxygen gas rather quickly and will essentially outgas oxygen from the pool (and such oxygen bubbles will pull carbon dioxide from the pool) since it is already saturated in oxygen (from being in equilibrium with oxygen in the air). I do not know the rate of ozone generation in a typical ozonator so can't comment on how good it is at aeration compared to an SWG. You could certainly try the TA lowering process with the ozonator off and on at different times and compare the rate of TA lowering. It's clearly going to be better with it on than off -- I just don't know by how much.

Richard