There isn't a harmful spectrum for the fish/corals. The main concern for metal halides is UV emission. The outer glass on the MH is a partially for a UV shield, but doesn't provide full UV protection. Some MFR's add a uv glass to metal halide enclosures, but that is for your protection. The sun emits UV rays as well and fish corals live safely under this their entire lives.
I don't know the quantities of the UV rays emitted by MH bulbs compared to the sun. I feel though that given that they are close. there isn't enough exposure to the light for me to worry about it. I do however use acrylic shields, but mostly for better bulb airflow, since I have some very special venting requirements.
Hope this helps.