This is the response I got from Nanotuners...
The PAR 38 lamp can handle any corals you want, but it really depends more on how many you run for a given system and how close to the water the light(s) is. You could use one or more as primary or supplemental lighting. It's really up to you. Under standard operating conditions, the LEDs should last 4-6 years depending on how many hours the lamp is run. The warranty on the lamp is 6 months. Yes, the lamp provides the same shimmer as HQI lighting. The two primary configurations are 12k (3 white/2 blue) and 20k (3 blue/2 white). Yes, all five LEDs are in one lamp. It uses a standard e26 socket, which means that any fixture out there that you can screw a standard light bulb into will work.
So I am still not convinced 100%. I asked for some pics from them of tanks lit with these.