Finally, a question I feel uniquely qualified to answer
"White" LEDs come in several flavors, the most common of which is a blue die surrounded by a yellow-emitting phosphour. Our eyes see blue and yellow mixed to create white, but it has its drawbacks. For instance, say you wanted to color the light using filters... this works fine on incandescent bulbs because they emit a wide spectrum. Since the blue/phosphour LEDs only emit over two narrow spectrums, your filtered light will rarely have the color you desire. for example, a red filter will actually show up as a pink color, a yellow filter will show up as a lemon-lime color, a green filter will show up as an aqua color, and an orange lens will show up as yellow.
A second (but less common) type has a set of RGB dice inside the same package, but there is no individual control... the output level of each color is set at the factory (when I say "set", I mean the process, materials, and quality control they use determine light output for each color). With this type, you CAN use filters successfully. But you'll pay more, sometimes a LOT more (sometimes even more than an LED which DOES have individual color control).
If you see any chance of wanting to change individual wavelength strengths (and this application sounds like the perfect example), you need to go with the individually controlled RGB type. This can either be separate packages for each color, like 5mm LEDs (cheaper), or combined packages, like surface mount (lower board space requirements).
Also consider more than just a single R, G, and B... for example, you may want 2-3 different LEDs spanning the red spectrum to give you more adjustability, though I cannot say if you will need that level of control. Scattering some IR or near-IR LEDs may also prove useful if you're using CCD cameras... they're quite sensitive to the near-IR spectrum, and you may get some nice shots not possible using visible light.
If this is a large array, heat dissipation will be a concern. Consider attaching the whole shebang to a large aluminum heatsink that has the water flowing directly over it.
That's all i can think of for now... feel free to ask more questions as they arise.
Dan - Owner