they both play equal rolls, so 2700-6500k is the light colour/temperature spectrum and the lumens is the intensity of the light.
so, if you have a 5500 kelvin CFL bulb(this is suppose to be the same light frequency that can be measured at mid day) but only have a lumen of 100, your bulb would almost have to be touching the plant to get any kind of value for the photosynthesis process.
my 6500K cfl bulbs are 900 lumens, i have them side mounted, 1 pointing at my dwc, 1 pointing in my mini greenhouse. some plants are 2 inches from the light, some as much as 8". the light that points at my greenhouse is outside of the plastic dome with some plants being as much as 1 foot away(by rights i really should have the 27 watt bulb with 1200+ lumens but i am too cheap to buy an new bulb, who knows maybe i will buy one today - i have to take the kids to walmart to get valentine cards for monday).
that is why caution has to be used when looking at new cheap LED lighting, though they can be adjusted for spectrum their lumen value is so low making them useless(though i bought the kids LED flashlights and a quick shot in the eye was blinding, the wife decided to use one and take the dog for a walk and came back for my 2million candle watt light)
all that being said, when i was using the cfl 2700k bulbs my seedlings pointed and stretch toward the light but by changing to 6500K i am giving the plants the colour spectrum that would be the most useful in photosynthesis and i may have gone a little over board with the 6500k and maybe should have stayed at 5500k, if i wanted to be exact but i bought what was on the store shelf.