LED manufacturers use incorrect testing parameters and incorrect advertising. They are severely inconsistent compared to eachother and a lot of products offer no efficiency benefits over traditional HPS.
They advertise the spectrum, comparing it to the incorrect chlorophyll disolved in solvent charts. Completely ignoring the Mcree curve. Whats highly amusing is with a video by kind LED in which they detail the mccree curve but then completely contradict it with a chrolophyll solvent chart.
Mccree Curve
Chlorophyll Solvent Chart
LED efficiency is not stagnant, their efficiency has been developing over the years, this is called the haitz's law. Its only of the last decade that LED technology has really seen its place as the dominent light source due to lower cost and efficiency.
Green LED's have had poor efficiency compared to RED/BLUE. The reason behind not using green in LED grow lights is not because of plant absorption sensitivity, but because its less productive using a lower efficient spectrum LED.
Recently green LED's have now caught up, allowing its use in grow lights. Spectrum king is one of the first to adopt this and has full spectrum LED products. Knowing full well about the plants spectrum sensitivity, providing highly efficient and field tested yeild per watt.