Non-ghosting LEDs are bad to use with LEDOCD. They will still work but the non-ghosting circuitry limits the ability of LEDOCD to dim them to very low levels. So you're better off with conventional LEDs, which will give you the full LEDOCD fade effects, and have the virtue of being cheaper.

You can read more in the LEDOCD thread. The following is from what I read there, not my own experience, so I can't tell you whether it's worthwhile to go back and replace non-ghosting LEDS with conventional LEDs.

To summarize: non-ghosting bulbs (i.e. the fancier ones) WILL work with LEDOCD. However, they're not optimal b/c the nonghosting circuitry in the bulbs themselves will "pick off" the LEDOCD's attempts to do the dimmest levels of illumination. You can play with the settings to make it still look pretty good, just not as nice as you'd get with conventional bulbs.

This is counterintuitive b/c in this case the cheaper bulbs work better with LEDOCD. But it is well documented.

I've only ever used frosted LEDs as well. A little extra difussion can't hurt.
Some of the LED flashers are pretty crazy, but comet carries some less powerful ones that I've been pretty happy with.

Added over 7 years ago: Link to the 5-SMD flasher: http://www.cometpinball.com/product-p/5smdflash.htm

There's a thread about his somewhere. Word is they retired the game and will auction it off (in some kind of Disney employee-only auction).

Ah sorry, didn't realize that was a picture of a newly relocated Indy. I was bummed that the machine was down on my trip to Disneyland last spring, hopefully it'll still be kicking in four or five years when I make it back that way again!