A lot of it depends where you're riding. Remember the purpose of a bike light is to see. You see better if more light is reflected off the objects in front of you. That in turn depends upon their color. Offroad you might want to go towards something neutral white in the 4000K area in order to throw more light biased towards the warmer side of the spectrum because background objects often reflect more red/orange/yellow.
More or less what I write on the above mentioned webpage of mine, but I would say it differently, see below.
If you're riding primarily or entirely on streets on the other hand, much of what's in front of you is varying shades of gray. In that case, it's easier to see (i.e. you get better contrast) with 6500K.
Not agreed. The tests I've done clearly show neutral white is also superior on all roads. Gray is not just gray (asphalt containing small pebbles etc), and streets often are bricks, or have bricks to the side. Tiles have not just gray but contain various small stones as well.
I would say it thus: What you need is a good contrast between the colours you see on the road and beside the road. In testing I found neutral white is best for both. Warm white makes everything too brown/yellow, i.e. contrast is lost between the greens and browns/yellows. Cool white loses almost all yellow/brown tints, e.g. fallen leaves on the road, and all greens look almost the same colour. Good depth perception is almost impossible with cool white. For warm white this is less of an issue, there is a loss of contrast in the other direction but not as bad as cool white and I would prefer it to cool white, esp. for mountain biking.
In the wet neutral white is also far superior to cool white on asphalt as it shows for example the difference between a puddle and tar-like sections on worn or repaired bits on roads. I made various pictures of such examples of roads (day, dry) which I will add to the descriptions on that page. Pictures when wet will be added at some point, but the description is clear I think.
I've added a bunch of pictures from tests with some XM-Ls to show the difference between various colours in the garden and on a tile path with leaves on it.
Asphalt pictures to come at some point when it's not so windy (bike on kickstand falling over strength) here... Also when I get my hands on more neutral white tints I want to make pictures of a lot of different colours and see how they fare in typical situations.
See:
http://swhs.home.xs4all.nl/fiets/tests/verlichting/experimenten/index_en.html#xml