If you upgrade, get a real upgrade. If you want to add to what you got, that's good too, i'm not trying to convince you of one or the other.. too many personal preferences.
But, you'l likely save 33% off your electric bill related to growing, if you do. you'll ge ta light that'll last ~5-7 years if treated well before it's approaching 80% brightness...something i guarantee your blue/red panel isn't going to achieve in 99% of cases.
anything with 3000k? 3500k? (have to look that one up) Samsung LM301B (B or H, absolutely the same) diodes will be the most efficient choice available. If it mixes in a few 660 red diodes, even better spectrum for plants. less heat, more light. you can create a much more even spread of light on your canopy which eliminates hotspots (light or heat, but in this case light specifically) caused by hps, cobs and the like.
You can get over 1200 umol/s for ~500w at 1.4a, which has pretty cool running temp with a decent heatsink. a fan blowing over it makes it cool to the touch.. not warm one bit. drivers (2x"240" cc) do get a slight warmness to them.
if you are made of money, you buy more of them and run them at .7a to 1a and they'll last even longer and if they didn't require active cooling before, they certainly wouldn't now.