I set the dial for the lowest AC setting, put the black wire on a grounded recepticle and put the red clamp /wire in the tank. I don't exactly know what method that is, because I got it off of YouTube. lol! If I'm doing it wrong, by all means , tell me!
You're right, it doesn't remove potential voltage if you ground it, it just provides a path out of the aquarium.
Here is an article I partially understood the other day: http://www.reefs.org/library/aquarium_net/1298/1298_3.html
Here's a quote from the conclusion:
"Regardless of the method by which the energy is being coupled into the tank (and we can debate this further) the voltages are quite real, and quite high for a sufficiently isolated tank. The currents, however, are so small that they very nearly defy measurement with laboratory grade equipment. In all cases tested for this paper, no voltage was detectable in the tank when the titanium ground probe was properly connected to (earth)."