Don
Seems as though you can get continuousl VC with halogen light and filters, especially if you add some Rosco blues to your filter pack. The standard blue LEDs probably won't go above about 4.5 or 4 grade, if I had to guess. All the filtering in the world won't put more blue in, not even white LEDs. There are some near-UV LEDs that you could use, but I don't know much about this and I'm guessing they are expensive. Coldlight would be a good choice. It isn't so hot for enlarging because it isn't bright enough, but that problem goes away with contact printing. Stabalization problem comes back to get you, so you'd need a controller and you could only do one color at a time or get two controllers.
How much are those old Minolta (?) pulsed xenon light sources these days. Would that work? I thought about 2 Halogen lams, one with green and one blue filtered, but you can't turn down the intensity without a color shift. Bad idea.