This website lists the ingredients on the label as:
Sodium Bicarbonate.....86.60%
Clarifier And Other Ingredients.....13.40%
Arm & Hammer describes their Clear Balance product in
this link where you can read a Pool Owner's Guide which goes into more detail. Basically, the product is just baking soda plus a clarifier. The talk about pH is about pH stability (i.e. buffering). This product would mostly be used with Trichlor to keep the TA higher, though realistically one could use a pH Up product to balance TA and pH at the same time at a not-so-high TA level. If you use baking soda, the TA would have to be quite a bit higher to only use this product to maintain the TA and pH at the same time.