I recently designed a small experimental LED growlight. I did some research and came up with the following:
Chlorophyll a is the most abundant pigment. Its absorption spectrum peaks at 430 nm and 662 nm. There's also a small peak around 630 nm and a larger peak at 400nm.
Carotenoids are believed to aid in the energy transfer and thus play an important role in photosynthesis. Almost all of them are active between 450 and 500 nm.
more info and graphs here:
http://darwin.nmsu.edu/~blyons/BCHE_397/Plant_Pigments.htm
http://www.lumitronixforum.de/viewtopic.php?t=1161
A ratio of 20% blue and 80% red seemed to be ideal (NASA) but some German people did quite a few succesful experiments with only blue and white LEDs...
http://www.lumitronixforum.de/viewtopic.php?t=429&postdays=0&postorder=asc&start=200
If you don't understand German, try babelfish and read the whole topic...very interesting information!
My own array consists out of 100 5mm Red LEDs (660nm GaAlAs), 18 5mm Blue LEDs (465nm), 18 5mm Cyan LEDs (480nm) and 18 5mm violet LEDs (395nm). This should cover the whole absorption band.
Total power should be about 4.5W (I know, that's not a lot, but we'll see what it does). The beam angle of all LEDs is 20-25°.
Now I only have to find some pepper seeds to start the experiment
Wim
PS: will post some pics later.