I will take better looking colors than absolutely accurate representation any day of the week.
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But you get better looking colors if you have a light source that produces color that are reflected instead of absorbed. For example in a tank you have Rotala Micranthemum that looks like this
Notice not only do you see a shade of red but there's also a bit of orange and perhaps yellow. If you don't have those colors in the light source those colors in the plant won't be reflected and the plant won't be visually at it's best. That's the reason under an led light at 6500 K produces washed reddish-red plant colors whereas greens being closer to the predominant blue output look pretty good.
BTW, You could incorporate an led that emits at 405nm and possibly get some flourescence. You check this easily with a violet laser pointer. Green plants generally fluoresce magenta.