Do LED lights really promote Photosynthesis? If so, do the same watt/gallon rules apply?

I have not heard anything specific about LEDs but in general, photosynthesis requires the proper wavelength of light. Full spectrum and fresh water lamps (pink) are the standard. Most shoot for 6700k or higher for full spectrum.

In aquariums the wattage (energy) and lumens (power) also come into play because they must light an area and be able to penetrate through water. I'd be interested to know how LED fare, since they seem to "look" brighter but use up less electricity than standard bulbs.


EDIT:
Hmm found something about LEDs as grow lights mid-way down (with picture) and they seem to be similar spectrum to the pink lights I use for my fresh water tank:
Grow light - Wikipedia, the free encyclopedia

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--->Pictures of my 75g Amazon tank<----

The now sell LEd lighting system for tanks.. they are bit on the expensive side but I fully expect the cost to come down when the newty wears off.

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Gold Coast Aquarium Society South Florida
[url]www.goldcoastaquarium.org[/url]