Are you doing it for wastewater treatment? Or are you just trying to reduce the chromate to use trivalent instead of hexavalent?
Hex chrome can be reduced using sodium metabisulfite in acidic conditions. The color will turn from yellow to green. The now-trivalent chromium will precipitate out if you raise the pH, which is why I ask about waste treatment as this is the method commonly used.
In the case you're talking about reducing your hex chrome to tri chrome and using that as a passivation, I wouldn't recommend it. You'd be better off just starting with a trivalent solution instead.
Answering your last question, hexavalent is undoubtedly better, but carries a lot of health concerns with it. In the United States, very strict limits have been set on the use of hexavalent solutions in electroplating. Trivalent works for some people, but it all depends on what metal you're plating and what environment it is going in to.