This has both whites and blues, correct? since you already have this one, try some soft corals under it and see how that goes. You might need to purchase another of these, or maybe 2 more, depending on what corals you end up with. I think 3 of these fixtures over your tank would allow you to keep a decent assortment.
If the light is strong enough, it will promote coral growth. You don't need a blue light for night time.
Unless you want to return this one and get something that you can keep anything you want under now. It might save you some money.