"poly" just means there is more than one gluconate. Since the metal is Calcium (Ca2+) I'd bet it's 2 gluconates-- or calcium bigluconate, aka calcium bisgluconate. Anyway, the chem formula would be CaC12H22O14, since each gluconate is C6H11O7.
The problem I can see with that is, cal. gluconate isn't very soluble in water-- I think you can only get about 5-8% to really dissolve in water, and that's just plain ol' water-- not salt. Duno what it would do in a salty mixture. I use seachems Aquavitro for cal dosing, and don't have any problems whatsoever-- but then, I don't dose often because I do frequent water changes. my main complaint (and only, actually) is that it precipitates easily out of solution, leaving nasty salt crust on my hands every time I touch the bottle. But as far as I've seen it's good stuff. The gluconate just acts as food source for the critters-- it's very similar to glucose (sugar) metabolically. :)