Don't know how beneficial to the cham it is, but the plants sure do love the light. I bet the extra light in his cage does maybe help with his mood, hunting, etc. Todd at lightyourreptiles has some LED lamps too, but I am partial to the slim design of LED freshwater aquarium fixture design.
A 24'' 4 lamp T5HO with 1 12% uvb bulb and 3 5000k-6500k plant grow bulbs would suffice. Of course with a heat lamp also for basking. If you want to get all fancy like you could go LED for the plant growth.
Something like this(T5HO):
http://www.lightyourreptiles.com/trblhot524qu1.html
For...
These two vids will answer all your questions...
Breeding
http://youtu.be/nedCYxxfd5g
Separating nymphs
http://youtu.be/sXJKrN6KSbU
I have been breeding my own colony since Xmas. Love them! I hate crickets now
Update...
Darth Bane has doubled his weight in less than a month! (14g to 28g) He is also showing whites, reds, greens, & blues :D Hopefully some yellows start coming in
One day I will get a pic when he is fired up, but he is always so damn calm :eek:
Look at the site sponsors on here and buy from a reputable breeder like www.flchams.com or one of the other sponsors. I know it's hard to resist the cuties in the pet stores, but you will be MUCH happier with a cham breeder
Just my opinion