depends on what macro you are using. if you are using something like cheato that doesnt go sexual, then you are best with 12 hours on/ 12 hours off. this is because for the best algae growth the plants will need a dark period to respire, and with better growth come great nutrient uptake.
when i ran a refugium, i just used regular reflector style light from home depot with a exo terra CFL plant bulb.
if you are growing something like caulerpa in the refugium i've read that its best to run lights on 24/7 to prevent it from going sexual. although i dont know how true this is. one because ive never heard of anyone actually having it happen to them. and two because i have caulerpa in my macro algae cube, its on 12/12 schedule. ive had it turn white and "dissolve" away before, yet never have i had it so up anywhere in the tank.
---------- Post added at 02:11 PM ---------- Previous post was at 02:10 PM ----------
oh yeah, and like mentioned above, having it reverse from you display schedule is also recommended to prevent the pH swings that occur when the lights are off.