I saw some guys a few years back fishing for burbot after dark in October. Their floats included red LEDs and it was eerie seeing these little red lights floating on the water in the darkness. When a burbot hit their bait, the LED was pulled underwater and they knew they had a strike.
Nothing wrong with that since the LEDs weren't attracting the fish, just letting them see what was up with their bobbers. Nothing wrong with a light on your rod to indicated when you have a strike either. I'd have more of a problem with the glow-lures that you charge up with a bright light and then they emit a glow to attract fish, and those are legal in most places.
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