LED Floodlight In Refugium To Grow Frags?

So I need to replace the home depot daylight CF bulb I use for my cheato because it has switch spectrums and I am seeing some microalgae growth and the cheato growth has slowed a bit. So I am looking to replace it with a PAR30 or PAR38 daylight LED. Home Depot had some so I picked up one of each and plan to return one or both. I have one of those Home Depot clip on lights that I will be using with one of these bulbs. Since the refugium is not very deep (only 10" deep water) so I have a few questions relating to growing frags in the refugium along with the cheato:

1. Has anyone done this with just a daylight bulb (I don't feel like spending almost $100 for a 12K, 20K spectrum Par38 bulb?

2. Since the bulb is 6500K I know it will create a lot of growth, but will it affect the actual color of the coral? By actual color I mean the actual color of the coral and not the perceived color based on being under 12000K, 14000K, 20000K, etc.? So if I took a frag out of my display tank which is showing a 12000K spectrum and place that frag under a 6500K spectrum for a couple months, will the color be the same in the 12000K light when I place it in the main tank again?

3. Out of the two bulbs, the PAR30 (75w equivilant), PAR38 (120w equivilant), which one should I use? I am thinking the PAR38 might be too intense since I know LEDs are pretty powerful and I would not be dimming the bulb? (I have Radions on my display tank)
 
If you want to grow frags and algae in your sump and keep the same similar color, then you need to buy both bulbs. So your question is, if you have a coral under 6500K for two months, will the color of the coral change. Yes, it will not look the same. It will take some time to color back up once you get it back under your display light. Each type of coral will be different depending on what it is. Some corals you will not notice much of a differenace under 6.5 lights for say 2 months, like a torch coral. But chalices and sps will show a big differance. Now, each coral will have its own time line as when they start to change color.
 
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