Computational Theory is pure math. It comes in handy for certain problems and some types of programs. It's not completely necessary and although I love the stuff, it rarely comes up. When it does it's very exciting.

To be a good programmer, you definitely do not need good math skills; but if you want to write the kinds of programs that others get excited about, solid math skills are a must. If you wish to get a university degree in computational theory, you'll need the math. If you wish to get a business degree in IT, you probably do not -- those people tend to make more money anyway.

Short answer: yes. Learn algebra immediately.