It depends on what you want to grow.
Halide are best for sps and deep tanks but make heat.
T-5 efficient but not as intense as halide and actinic still is not as good as vho but good especially with european bulbs, bulbs also last 18 months or so.
vho limited colors, some heat, only last 6-8 months, but the best actinics made.
pc's well, the lower cost alternative kind of. Not as intense as others, limited colors, and actinic not as good as vho.
I can't speak for other corals, but YES sps will develop better colors with a high amount of actinic, 420nm, 460nm, 15-20kk bulbs etc., but this is only part of the equation.
I think ideal is the old halide/vho actinic combo, or, possibly a lower KK t-5 with vho actinics which I may try on my next system.
All the above can be argued, but so can salt, feeding, skimming, etc.
Todd
Killed my first coral in 1991, have tried to do better since. Always tricky.