New LEDs
Jeff, what fixture? That might make a difference as to height and intensity.
For a ball park I would say 12" or greater from water line to start. As for settings. Find a color mix you like and then subtract 30 to 40% from there. You can bump up the intensity each week. Keep an eye on the coral and look for bleaching or color loss and browning. Bleaching - turn down intensity. Browning or color loss - turn up intensity. Once you get the intensity dialed in then you can lower the light a little at a time until you get to your desired height.
John
"Critics are men who watch a battle from a high place and then come down and shoot the survivors." Ernest Hemingway