Regarding paint peel, our Solar Ride has one flake between bulbs. Bulbs probably accelerate somewhat, but they also accentuate where it happens by shining through the holes.

LEDs are likely only more likely to cause seizures because they're more capable of flashing at frequencies that might at someone off that an incandescent wouldn't be able to.

Most of the stress involved relates to the transformer, as near as I can tell - part of the reason on some machines they recommend replacing the MCU power supply with something more modern. The logic is, because LEDs pull so much less ampherage than incandescents, even with the need for "in-bulb" rectification and voltage dropping, it lessens the load on the transformer and whatever else drops it down to 6.3V for the bulbs. Plus, power supply components suffer various losses as they age - a component that may have been rated at 150% of the expected power draw may be closer to fielding just above what it's being asked to provide, and if LEDs decrease the load, they can actually help extend the life of those components past where one would be calling around seeking a replacement part.

We seem to have noticed another effect on our Solar Ride here after the changeout, as well, which may be related. The pop bumpers may have gotten a little stronger. The coils come off the same transformer that provides the lighting power, and the switch may have freed some overhead in the system.