You can run a wet/dry with a reef tank, but I think you would be happier if you coverted the bio-ball chamber into a refugium. There have been lots of reports about the bioballs contributing to high nitrates.
There is no reason that you can not run a wet/dry with a reef tank.
As to the bio balls. Much of what you hear is myth, and absolutly not true.
Many threads about bio balls, a search should keep your reading for days.
My opinion.
Thomas712
You could do a refugium with live rock and macro algea and a deep sand bed. A regular sump can also work. combinations of fuge/sump can be done. Always leave room for a skimmer.
Thomas