Those color temperatures are the plant's weather forecasters.
Red is cloudy, the plant gets itself ready to process water.
Blue is clear skies, the plant closes up for hot and dusty.
These are just two inputs out of many. An influence.
Most important is enough light (posted already), the supplement lights are just that, supplements. Cloudy readies the plant to use the water and nutes faster. Clear sky and the plant hunkers down and closes up more.
How the overall grow is being conducted affects how strong the red/blue ratios come across. Influence is less when the light is dim, the plant stretches towards any color available.
2700K is multi spectrum, a smaller blue/green line than 6500K is all.
A 630 nm LED would be single spectrum. LED builders usually add a little more color, not always much, but some. Most of their hype is how much of what spectrum is added.