It looks like it will run T5 or T5HO with individual switches. In other words, the sky is the limit on lighting intensity and duration. With some fancy timer work, a nearly dawn to dusk cycle would be possible, extending the amount of time that my aquarium would be lit.
I'm also wondering if a simmer effect would be washed out by the T5 lights. Obviously, T5HO+LED would be a little much, but I'm thinking T5NO+LED would be okay with adequate ferts and C02.
I'd just run a Finnex Ray II if you are looking for higher light levels.
With timers and each T5 on a separate Cord you could simulate something especially if you use T5NO in them. The Question I Would ask would be about the possibility of using a dimmer with the LED portion as the vast majority of the light is going to come from them and if they are FULL on/Full off it defeats the purpose that you are thinking of using the light for.
More importantly, I'd rather have the lights on rather than off, but full on is too much light and everything off is boring. I think that dimmable LEDs are great, but we still have a few years to go. Call me a fair weather aquarium nerd, but I have one display tank that's in the middle of my living area, so I go for more plug-and-go.