the tannins are humic acid thats released from the wood, similar to that in almond leaves.
in a natural amazon river there will be many branches and leaves etc that get dropped in the river. these leach tannins into the water giving the black water rivers that quite alot of ornamental fish come from like tetras, discus and many more.
it will reduce the pH but very slightly and tbh will hardly noticable without going overboard with wood, it is also said to soften water too but again hardly noticable.
a tank with water tannins actually can look very good if done right but too many people insist on perfectly clear water.
soaking the wood will release alot of tannins especially in hot water but it will still leach for many weeks or months to come. i have a piece thats been in water for over 2 years and it still releases tannins........ it is a big bit though.
the easiest way to remove it after soaking is to add carbon pads or media into the filter this will almost over night remove the stain from the water giving the clear water your after. when you start to notice the water getting stained again then just replace the carbon with new. lots of people will say that carbon only lasts about 2 weeks then it will start to release the things its absorbed back into the water but ive never experienced this at all and have had carbon in filters for a few months before replacing it.
also all wood will sink eventually some just take longer to soak the water into it and releasing the trapped air inside it. some wood will sink instantly like mopani and some like redmoor will take a while to sink but it can always be trapped down with a rock or heavy tank decor object until it sinks on its own. do not be put off by drift wood and redmoor wood as these can look stunning when fully submerged and can contain much less tannins than mopani and bogwood
