technically, anything green is probably photosynthesizing at least a little bit. However, the concentration and depth of chlorophyl in leaves is several orders of magnitude larger, therefore dwarves anything you get on non neaf green material. It is also attenuated from below.
it's going to help your lower buds for sure. they will fill out better as if they were near the top of the canopy. other factors matter still, but relatively speaking it'll be a rising tide that lifts all boats. no idea if it is worth the extra cost -- having to buy more lights when they go bad as well as watts along the way.
probably want to leave more undergrowth at least a layer around outside to get the light. Have to comare some clones doing it your normal way as a control, then compare outcomes with the extra light... not that it is "the" threshold but you can put it in terms of whether the increased output matches teh extra watts proportionally.. maybe, the consistency of quality that results is enough on its own... personal preferences are a bit part of it.