My 150 is mounted about 10in about the water. I have never had any issues with anything bleaching but still had enough light to support the more demanding corals and even my ritteri anemone when it came in bad shape and brought it back from dying and bleached to a beautiful specimen in this tank. Any higher, in my opinion and with a 29 gallon, you won't have enough light penetrating to the bottom of the tank.
When I was researching, a 150 for a 29 is the minimum and you will walk a fine line between heating the water and light penetration. Once I found the zone though, it worked out well.
If I were you, I would experiment before securing the halide into the canopy. As I stated, a bit below 10 inches worked out best for me.
My fixture only came with one fan and it was sufficient. I do live in FL and keep my house temperature around 75. The only time I had an issue with my tank heating up was when my a/c went out and I just ran the T-5's and left the halide off. In that situation though, even my pony tanks running pc's were heating up.