I have a par38 over my fuge with 10 red and 5 blue LEDs...it grows macros extremely well. I used to use it over my FW tank as a supplemental light for my emersed plants; they grew like weeds.
They do make LED strips that are submersible. But most are only designed to be accent lights and aren't very bright. I know that Hydor, Current and Marineland all have a few types available.