If you're more worried about the cost, and don't expect to use the lights often, stay with the white/bulb type that are much less expensive than the LED multi-color type. The latter are very expensive to install and replace down the road - $2100 in my case for 2 lights, controller and installation. Bulbs and a simple on/off switch are a lot cheaper and easier to replace when a bulb goes out. A white color bulb still looks great at night and does the job well!

Also, I'd say it's a safety issue to let kids swim at night without a light.