Doesn't matter for the plant if light is similar to sunlight or it's just red-blue mixture that works best for the photosynthesis process. Your power bill will note the difference, though and every Watt that gets spent for greenish light that doesn't get used by the plant will cost you a tiny bit, but it adds. The next issue is heating, every watt that gets used also heats up the LED chip (or any other bulb) and you have to take away that heat. When plants can use the light, you don't really mind if you pay for the energy and then blow it away from the plants, but if it's just an unnecessary energy wasted on, well, nothing,.. You start thinking differently.
I've built full spectrum LED setup and replaced my warm/cool white LED light setup. It was super bright 200W LED setup (I do suspect, however that the chips were only 50W each, which makes it 100W). I thought it was working great until I built that red and blue light.2 50W LED chips are not as bright, but the plants thrive under the lights. I have broke any possible speed record growing bamboo seedlings using that light. In 3 months, plants overpassed the size of more than 6 months old plants I grew with old light setup. For half the used power and much less heating. The only thing that bothers me is the funky colour. If I work around the plants for more than a couple of minutes, I see the colours messed up after I leave the room. In a minute or two my vision returns to normal when I reset temporary colour detection adaptation.
I've been writing about the carnivores under those lights, perhaps someone is interested in reading:
Colour change of my Capensis seedlings under full spectrum light setup
One of the posts about my current bamboo seedlings, there are other posts with more observations,..
I'm working on an article about building the LED light, but it's not really finished yet. Hopefully it will be, before the spring.