Napa Ed wrote "Sometimes a person will ask a hypothetical question in order to learn."
Quite true. But there are others who ask "loaded questions," then search the reply for something that will tend to back up their own particular concept or theory, even if it was not what the author intended. These folks sometimes become argumentive, "Well what if... Suppose that...." As Peggie will (I'm sure) attest, one must thoroughly mull over their reply to a question, particularly when it applies to actual laws, before offering a response. Too often, someone is waiting to pounce on the reply and say, "gotcha!" So we all have to be very careful when formulating an answer to any particular question, especially when legal issues are at stake.
As Peggie stated, holding tank additives such as K.O. and Odorlos simply "treat" the contents of the holding tank to neutralize or reduce the odor. Nothing more. They do not disinfect the waste or treat it in any way that will make it fit to be discharged overboard.
The only way toilet waste can be treated to where it can be discharged overboard, is for it to have been run through a Coast Guard certified treatment system, then discharged overboard. This is an add-on MACHINE, used in conjunction with a toilet; it is not a toilet, or an additive to go into a holding tank.
While there are others also available, the two most popular Type I treatment systems, also called MSD's (marine sanitation devices), are Raritan's Electro-Scan and Purasan treatment systems. Type I systems are legal for use on boats up to and including 65 feet LOA - but only in areas that are not federally-mandated No Discharge Zones.