The ability of a lighting source to accurately portray colors - especially as related to each other - goes way beyond overall color temperature.
The muddy look in some colors seen when viewing art illuminated by fluorescent bulbs in the past has been measured the effect with the use of something called the Color Rendering Index (CRI). As it stands with the ongoing development of SSL (Solid State Lighting) which includes LEDs a more exacting system has been developed called the Color Quality Scale (CQS). For actually useful information on the topic please find below a link to a new article in Architectural Lighting.
If you want to find out even more on this topic in the most pleasant setting that I can think of make plans to attend the PACCIN Preparators Conference (Los Angeles April 13 - 15 2012) where this and much more will become crystal clear to you (and me).
Hope to see you there!