An answer is not easy and of course I could be wrong. I have not observed this daily color change in Rotala rotundifolia in my aquariums so far. That is very interesting. It is difficult to make a remote diagnosis, but perhaps there could be the following explanation:
When the light comes on (12 hours total would be ideal), the plants begin to assimilate. When a plant reaches the highest assimilation rate (rapid growth) during the day varies from species to species. So when the light comes on, Rotala will not have an assimilation rate of 100 % right away, but will reach the peak of assimilation only after some time (one or two hours?). The assimilation of this species does not necessarily have to remain constant the day over, but if the light is too intense, the assimilation rate can also decrease again (e.g. in shade plants) – then the plants grow slower! The reddish colouring (what we like) is to be seen as a common reaction (protection) against too intense light. The reddish colouring does not mean that the plants grow faster. I think that the colouration of your plants, Sammy, depends on both the speed of growth (assimilation) and the light intensity. I think it has nothing to do with nutrients.🙂