The use of alfalfa as a fertilizer is the equivalent of what is known as green manure in agriculture. As a fertilizer it a very good source of nitrogen. I would prefer to use it in the form of alfalfa meal...not pellet. The latter is formulated as a foodstuff for large animals ( cows, sheep, ) or even larger as alfalfa cubes. It normally has Kaolin added to bind the meal together during the high pressure steam press. All of this adds to the price. It doesn't make much sense to add alfalfa pellets when the same effect can be achieved with ground alfalfa sold as meal, which is one stage earlier in the process. Alfalfa meal is ground alfalfa out of dry hay bales . Alfalfa meal can be spread at the base of a rosebush about two spoonfulls per plant as is. No wetting or worrying if it will stink...
It will gradually seep in...no worry about worms either...its quite natural too.