Growth rate is the same as any other lighting I have used. One thing to remember with LEDs is that the "daylight" part is mostly for our eyes. It is the royal blue part that is providing most of the useful light for the corals, so even in the dusk/dawn settings were it is mostly royal blues running the corals are still getting a lot of the proper spectrum for growth.
My LED light schedule using PWM to control the LEDs:
12pm - 12x 420nm LEDs start to ramp up, reaching 700mA in 60minutes (1pm)
12:30pm - 12x royal blues start to ramp up, reaching 1000mA in 90 minutes (2pm)
1:30pm - 4x cool whites/4x regular blue/4x cyan start to ramp up - reaching 600mA in 120 minutes (3:30pm)
2:30pm - 6x cool whites/6x warm whites start to ramp up - reaching 600mA in 90 minutes (4pm)
From 4pm - 8pm the lights stay, then they begin their ramp down phase in reverse order. It is a 12 hour light cycle overall, with moonlights running a few hours before and after the main lights. I feel this gives me the perfect looking dusk/dawn setting with a very bright crisp mid day look with good coloring all around.