yea.... hypo will kill corals, all inverts (well at least 95% of them) etc.
If possible I would setup a extra tank to do the QT duties in.... and let your main tank remain empty of fish. I have a extra 150g rubbermaid tub you are more then welcome to use during this process.....
If I recall salinity needs to be in the 1.008-1.009 to be affective and it needs to be there for a while.... I think its 2 months
When I did hypo some of my fish didn't do so great with the treatment..... I lost a few