Hmm...I would have to agree iodide/iodine dosing is one of the major questions folks have, and it actually can sometimes become a bit on the heated side. I have to say that it is a personal choice, and I do advocate its use. I've heard many stories of folks who had shrimp deaths stop immediately after dosing iodide/iodine. Now, I'd rather err on the side of caution and use is sparingly. I use approximately four drops a week after water changes, although I used to do it twice a week. The difference now is that I'm feeding more sea veggies/nori which have iodide in it. We have to remember, as well, that some of our ferts have Potassium Iodide in them as well, perhaps fulfilling the 'need.'
Another question is fish compatibility, and again I err on the side of caution -- I keep shrimp only tanks. I'm told, and would think that Ottos would be fine. I've told several folks not to keep shrimp with Bettas and guppies, only to have the said fish eat the shrimp just as I'd warned. However, I've also heard of stories of Bettas and other fish living with shrimp, without problem. Again, personally, I don't do it. I find, also, that the shrimp are so friendly in my tanks, and the Cherry shrimp will actually sit on my hands when I'm doing water changes, messing with the plants, etc. In fact, it's quite hard to 'shuush' them away!