I've looked a fair bit into led technology for the past 5 years i've watched Luxeon drop their prices of very bright leds.
LUXEON K2 LEDs - High Power LEDs
at $3.45 per white led you can make 3 pannels of 25 leds for $258, It really seems like construction and proffits for the item is too high, a ready built 12v power supply would only cost $80 at the most, and large heat sinks that could fit 25 luxeon stars would not exceed the $20.
this product offers you a 440nm peak moon light wich is the limit to luxeon royal blue led, I've come accross web material that states the optimum spectrum for zooanthellae is 420nm
IMO this product is too expensive because no one else has taken the time to develope healthy competition. it lacks the spectrum, most likely because the price of a 420nm led is 3x more expensive.its better to wait till this technology improves or becomes cheaper.