I cannot comment on the LEDs themselves as I don't know much about them...but I can say a little bit about the theory...
Keep in mind the K rating is a very simplified way to describe spectrum. The actual spectral output can vary by bulbs and have peaks in different areas (I have yet to see a bulb that is completely equal across the visible spectrum). And if you look at any PAR or efficiency graph you'll see absorption in the green/yellow...is it as high as blue or red? No, but it's not completely ignored by plants either.
There are certainly commercial LEDs being used without high red output. The Finnex Ray II comes to mind. Mostly blue, even from the white diodes. Yet people can grow a lot of plants using that fixture and the PAR output is higher than some LEDs with reds...my Sat+, for example, has white and RGB but lower overall PAR output. I wouldn't attempt to grow higher light plants that people can grow with Ray II's.
The red issue has been discussed before. It seems the biggest concern is that without enough red output, plants that are not inherently red (ie. they can turn green) wont appear as red as you would probably like. It's one reason why Finnex now has a red-specific LED clip addition on the market.
You can certainly target certain ranges in the spectrum by selecting specific nm output LEDs. Whether that is worth the time/effort/money is up to you.
I highly suggest reading these DIY threads on TPT:
http://www.plantedtank.net/forums/showthread.php?t=182365
http://www.plantedtank.net/forums/showthread.php?t=168999&highlight=led+fixture+build
buildmyled.com used to have an LED calculator that seemed to be very useful to many. However I don't think it has been replaced since they updated their website.