Slow release fertilizer is fine for LECA and more necessary than for bark, but osmocote is temperature released and can overdose whereas Nutracote is water released and safer for orchids, especially in warm areas like Florida.
Osmocote was developed for lawns etc in the northeast where the first spring temperatures would release the fertilizer.
"Controlled release" fertilizers have a permeable polymer coating on them to protect the nutrients and to control the release rate. Release rate is almost 100% determined by the temperature - the warmer it is, the faster, which matches well with plant growth rate.
In S/H, it's going to wash down into the pot anyway.