I've never used Aquashade, but I do remember what our resident expert, Kelly Duffie, once said in response to a similar question on this forum and to be exact here is the direct quote...
"Are there fish in your pond? If so, you'd best be cautious about putting AQUASHADE in there at this stage. If your pond has a heavy phytoplankton population, AQUASHADE can crash it - along with your dissolved oxygen (DO) levels. AQUASHADE is best used as a preventative measure, rather than a curative tactic."