Sorry, did I check up, and I ended up being wrong on that. They seems to be about equivalent. Found an interesting article comparing LED and LEP effect on coral growth and coloration.
With the advent of new technology, aquarists are able to customize light spectra with great flexibility. However, our knowledge of how light spectrum affects aquarium life, including corals, is still limited. Here, we show the effects of two light spectra, emitted by Light Emitting Diode (LED)...
reefs.com
It would suggest that the main issue about this tech is the acquisition cost and the spectrum (having an awesome growth on corals with washed out colors is less appealing to hobbyist than having a good growth with colorful corals).
Their conclusion is that this tech is great for aquaculture.