Quoted from Dmod:
LED: Susceptible to ghosting artifacts due to undesirable capacitive effects.
I haven't noticed anything like that on CV. There are some flaws in the colorizing rom where it's a few frames late with the color here and there but it seems like a programming issue and not a hardware problem.
I think the LED version is much better. This is coming from someone who uses the LCD model in regular dots mode, I don't care for the funny smoothing modes. I have yet to colorize a TSPP and NGG but it's going to be LED or nothing, so do hurry with the ROM updates. And hurry with JP, too!