Few things I'll toss into this discussion:
First off, a good way from my experience to cycle a tank is to just drop in a piece of shrimp and let it rot. This works best in salt-water tanks where you'll be adding live rock/sand that will have some of the beneficial bacteria already on it. However, that doesn't prevent it from being helpful in a freshwater setup. You can, alternatively, purchase supplimentals that contain some of the bacteria you need to get your cycle going well.
The only concrete rule I would personally live by is this: Never put any fish/plants into a tank that isn't cycled, or is being cycled. It's cruel and irresponsible (in my opinion). It's one thing to do it out of ignorance, another to do it knowingly. If you put fish in a tank that isn't cycled, you are probably going to kill them. Just how it is. Some people even use a goldfish or other cheap fish to start the cycle, knowing it will die. I don't believe in that practice, as it runs counter to the idea behind good aquarium keeping: providing the best environment you can for your fish.
That little mini-rant aside, I'll answer your question about actinics, since I'm fairly familiar with them on my saltwater setups.
Actinic lighting gives off light in the "blue" spectrum. Think "Roy G. Biv". Blue lighting has a particular wavelength range.
As to the purpose of them, that's a pretty debatable subject. Many people think they serve no purpose other than aesthetic, as they can help the colors on some fish "pop" more. Other people argue that they're a valuable tool for any plant/coral/clam types that require, or like, lighting in that spectrum.
You do NOT want to use them as your primary light source. Actinics are merely supplemental, either for aesthetics, or if you have plants proven to thrive on light within the blue spectrum, they can be used to aid in photosynthesis.
As for that particular Coralife item:
First off, I'd want to know how many wats are in the 10k flourescent. Keep in mind that you want a certain wattage/gal in "daylights". Actinic lighting really shouldn't factor into your watt/gal computations.
You'll also have to keep in mind your reflector positioning, especially with there being 2 bulbs on one light. Only half of the light from something like that goes into the tank directly, the rest goes up, and without the proper reflector, is basically wasted. With a split-bulb like that, you could potentially waste more than that even with a good reflector because you'll be bouncing some of it off onto the Actinic bulb, rather than reflecting it down into your tank.
Lighting isn't cheap for quality stuff. I would avoid making it so, since it's a pretty important part of a tank, especially a planted tank (less so for a FO tank).
Either way, remember that aquariums are not for the impatient. If you're going to (I'm just saying this in general to anyone reading) rush around and do things haphazardly, halfassed, or without any real thought to the care of your fish, then get a screensaver instead. Fish are real creatures, and caring for them should be done in the same manner you'd care for any other pet, or even your children. Treat them with respect, offer them the best you can afford, and don't get in over your head. But most of all, take your time, research, learn. It'll pay off in the end when you can keep your fish and enjoy them for years, instead of days or weeks.
Sorry if that was preachy. Good luck