Adding limewater does help remove phosphate. Not sure about nitrates. There are much better easier ways to do this though, LR and a good LS bed are awesome NNR's.
This is the way I understand it......
If you add the kalkwasser near the intake of your skimmer, then the localized generally higher concentration of the limewater will "bond" to certain elements in the water. Because it has a higher concentration of calcium carbonate, there will be a small precipitation of these. Causing them then to be skimmed out. But I don't believe that even if it does anything with the nitrates, you would have a noticeable amount of decrease. Someone on here had a good thread regarding this. I'm not sure that I got all the technical parts of what Is going on there right, but that's my mediocre hillbilly interpretation of it.