Right now it is unclear whether this actually sequesters (binds to and reduces the effective concentration of) calcium which is what Clorox was implying or whether it just inhibits the growth of calcium carbonate crystals just slowing down the rate of scale growth but not changing its potential to form which is what was said in the link I found. This is what I asked Clorox so let's wait until I hear back from them before deciding on the effects of this chemical.
I suspect that in any event the quantity is so small (even accumulated over seasons) that it has minimal effect on the relatively large Calcium Hardness (CH) levels in pools. Based on waterbear's comment, this chemical may clarify the water and get filtered out (he also talks about this compound in this post). So I think there is a good chance that this sodium polyacrylate doesn't sequester calcium, but we'll see (Wikipedia here says that acrylates bind to metals, but take this with a grain of salt, so to speak).
Richard
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