Not quite correct. The 120 watters are not really running at full power, as Ingy stated. These are 3 watt emitters that are not full throttle when at 100%, so you are ok there.
I don't think you need the 165 watt units at all. You could just swap out a couple of the reds for blues. Not that big a deal if you have ever used a soldering gun.
If you keep looking you can find the same thing with a different configuration. BTW, maybe you could contact the vendor of the 120 watters you posted and ask him if he will swap out a few of the reds for you....
As for a broader range of colors being better for aquarium inhabitants, that's not correct either. It's totally a matter of personal preference. either straight blue and white, or multicolored will grow corals just fine.