No and no. You could also check your C-41 chemistry MSDs. If you find something like hexamine in the stabilizer you probably don't need formaldehyde.
The concentration is quite small but still avoid breathing the fumes and make sure you have adequate ventilation in the room where you dry your negatives.
No hexamine. Looking on the bottle It is "2, 2 Oxydiethanol" and something C12 - C15 Ethoxylated? Seems cryptic. Stuff is very foamy if agitated too much.