I read that the brief exposure to higher PPFD can also exceed photoinhibition levels.The ocean surface is rough, so refraction distorts light creating bright 'shimmer' lines in shallow water. A reef tank with good surface flow and a single metal halide will produce a similar affect. A VHO light over a tank is too diffuse to form these shimmer lines. LEDs are somewhat in the middle, individual LEDs are point sources and can be close enough together to produce shimmer lines, but not as strong as halides.
Since I got into reefing 25 years ago, people have claimed that the shimmer lines briefly expose coral to much brighter light than it normally would, and this is beneficial. I haven't seen any good evidence for this, and it certainly isn't necessary, as most wild coral is too deep for shimmer lines . It is also a matter of personal preference - I find the lines distracting looking at my tank a long time, but other people like that look.