Hi,
Gluconate (sugar acid, basically), DTPA (Diethylenetriaminepentaacetic acid) and EDTA (Ethylenedinitrilotetraacetic acid (Edetic acid)) are all called chelators, chelants, chelating agents, or sequestering agents.
This is a definition I like,i
“chelation is a chemical combination with a metal in complexes in which the metal is part of a rng,” I stole it

from
http://www.chemicalland21.com/specialtychem/perchem/CHELATING AGENTS.htm that is a nice explanation.
The idea of chelates is to keep the iron bound up and in a form usable to plants.
Chelators are not taken into the plants.
Our aquatic plants (algae included) can and do use both the ferric and ferrous forms, many a brawl has started over that statement.
Chelants keep the iron in solution longer. Glucanate being a sugar is yummy stuff to bacteria and breaks down rather quickly in the oxic environment of our aquariums. :gw
DPTA is apparently somewhat longer lasting than EDTA as the pH rises.
There are many chelants and ways to complex iron.
If you are a subscriber, Tom Barr's
Iron and Manganese’s Role in Aquatic Macrophytes, Volume 2, Issue 4, April 2006 is a good explanation of the whole iron and manganese thing and a bit on the role of chelants and complxiation.
I hope this helps, if not, well, I am an evil plant monster.
Biollante