Oh man and we haven't even gotten started yet! If it makes you feel any better there are many Ph.Ds out there that have done their thesis and research on some aspect of light and how it's used by chlorophyll and science still has a lot left to learn. The following is a very brief description and you need to follow up with your own research, I would recommend Dana Riddles articles on Advancedaquarist.com to start with. Light is measured in nanometers the shorter the wavelength the higher the energy level. Different wavelengths bands are perceived by the human eye as different colors: below 400 is UV which the we can't see but is used by chlorophyll and corals, 400 to 500 is various colors of blue, green starts around 500 and goes to yellow and then orange and around 610 red takes over . There are currently five kinds of chlorophyll. PAR stands for Photosynthetically Available Radiation and measures light absorbed by chlorophyll a and b which is from 340 nm to about 500 and then from about 600 to about 700. Lux is a different measurement of light and is biased towards the green and yellow spectrum which the human eye is more sensitive to.
There are people who would be aghast that I would recomemend using a lux meter as it is more sensitive to the light that is not being used by chloraphyll a or b. There are two considerations I would point out. The first is both PAR and lux measuremnts are composite numbers and two different sources of light can have very different spectral output but give the same PAR or lux reading. The second is some corals are absorbing yellow light but reflecting red and blue wavelengths giving them a very pronounced purple coloration, we do not know what they are doing with it but when dealing with the coloration of corals we need to be looking at everything between 340nm and 700nm. And yes I know this means both lux and PAR meters are inadequate for the job. Ideally we need a cheap meter that displays the entire spectrum. PAR and lux meters still are the best method we have for measuring the realative intensity of a light fixture. I prefer PAR but as cheap as lux meters are I'm more than happy to sue them.
There are three different "things" that give coral their colors. The first is the corals symbionts, it's symbiotic dinoflagelates, brown, and symbiotic cyanobacteria for some corals that fluoresce orange-red. Many corals produce fluorescing proteins that absorb a wavelength of light (excitation wavelength) and reemit it as a longer wavelength thereby changing the perceived color. Corals also produce chromo protiens that absorb some wavelengths and reflect other wavelengths.
Now to continue complicating the issue is there are obviously very major spectral differences between different light sources. For example a 14,000K or 20,000K MH bulb has a significant portion of the UV removed. If someone using one switched to a LED fixture that uses UV or has a narrower/reduced orange/red component their corals are not going to look the same and may. as has been my experience, start to go down hill. What I like about Buildmyled is the expanded spectral output has eliminated the problem I have had with some corals and with others I am seeing colors I've never seen before.
There also is no such thing as an "Ideal"
That made my eyes bleed. lol. I'm honestly surprised I've done as well as I have without knowing any of that.
But, my corals are doing okay under the 6 bulb t5 (3 blue 3 10kK) so I imagine any amount of leds would vastly improve their look and growth. I gave a couple leathers that weren't doing well under my lights to Derek who has 5 Ecotech Radions on his 375 and the darn things are growing like weeds and extending there polpys now.
I think if you're switching for a look, you might be better off messing with your bulb combo than changing to LEDs. The biggest difference between MH/T5/LED is their energy expenditures and operating costs. In fact, the people who grow coral professionally still by and large use MH because the growth/coloration is better (in their opinion).
If you're having husbandry issues, I'd bet the farm that it's the water and not the lights.