Well we had a thread on LED growlights:
http://www.candlepowerforums.com/vb/...d.php?t=204092
Only blue and long-wave "deep red" are really effective wavelengths for photosynthesis. Most reds are too short to cover the narrow photosynthetic response peak.
This would grow the aquarium plants on much less power, but may not be visually appealing. Perhaps change to white to watch it? Or add some blue/deep red around the white array?