For the sunlit bit, I love it, however it does warm the water up quite a bit, I have a frag/growout (ahem.. test) tank of about 10g (by very shallow so a wide surface area) lit almost exclusively by sunlight (there is a 175w 14k hamiliton in position to shine on the really cloudy days (but I might ditch that soon) and it's hooked to my whole system ~130 gallons, and on really sunny days it raises the entire temp of the whole system quite a bit, a fan blowing across it remedies this situation though.
Also on this matter of heat, I was under the impression that the light energy going into the water comprised the single largest source of heating for a tank, so to me it seems that LEDs wouldn't provide heat a tank less unless they were putting less light into a tank. All external heat via bulbs and what not as mentioned can easily be vented out with a non-passive fan/vent system.