There is tons of information around spectrum of light and how it affects plant growth. it won't be substantially different for aquatics (since many species grow both in and out of water). The big key is the filtering effect of the water in the tank. Some wavelengths penetrate less well than others, so a light tuned for terrestrial growth may not work as well for aquatic, not because its a bad light, but because the water filters out more or less of some required wavelengths.
To add complexity to this different water with different conditions will filter differently due to clarity, tint, tannins etc...