I'm not a scientist, but it seems to me that the chemical composition of salt ( minus additives ) is still salt. No matter if it is coarse, fine or floured. The only difference is the size of the crystal that you are working with.
So, if you take non-iodized coarse salt and flourize it in a grinder it should work the same as any other flourized salt. If you are looking for the crystals in your baits, now the size of the crystals will matter.
I stand to be corrected.