However, my instincts would keep me cautious around this chemical. The formate ion forms formic acid and eventually formaldehyde which is extremely toxic to humans. In addition, many organoaluminum compounds (i.e DIBAL) can cause serious damage (like blowing up labs... seriously). If a bunch of this stuff was in the atmosphere, it could be quite dangerous to human life.
Otherwise, I am quite interested to seeing how this could be implemented.
Formate does indeed act as a reducing agent under appropriate conditions, but its byproduct is typically CO2 gas, not formaldehyde (HCOO- -> CO2 + H+ + 2e-). Aldehydes are generally unstable with respect to disproproportionation and are therefore unlikely reaction products.
Organoaluminum compounds are molecules with direct Al-C bonds, whereas these are effectively normal ionic salts with some unusual unit cell structure. Conflating DiBAl with aluminum formate is akin to conflating chlorine gas with clhoride anion...
HCO2H -> CO2 + H2
HCO2H + H2 -> HCHO + H2O
However, aluminum salts of formate are likely more stable? You usually need formic acid and heat to generate hydrogen.