looks good man. I think that your intuition regarding biology is correct. At the rate that you are switching these electronics on and off, it is going to be completely transparent to any biological critter, and should have no effect of photosynthesis, energy is energy.
That is going to be a SUPER powerful system for a 75g normal depth tank, in fact, the end user may consider using it without optics. They will definitely want to start in the low drive dimming range at first to let the critters adapt. We all must remember that light energy usable by our corals does not = light energy visible to us, so even something that doesnt look as bright as a halide bulb can badly burn ones corals.
I think that your build is awesome, reminds me of our projects in engineering school, I want to build a dimmer circuit and program it! What are you using to program the dimming and will the boards be microcontroller controlled or will they plug into a controller for their dimming input?
Very nice work!