For what it's worth, here are my notes from the LEDs I bought for Sorcerer (mostly Comet 50/50 bulbs, http://www.cometpinball.com/product-p/1smd5050.htm, with a few specialty bulbs only available from Cointaker). I color-matched the inserts as identified below. For anything white I went with warm white, I would strongly discourage cool or sunlight white for a game with warm colors and a "torch light" theme like this. I like the Comet 50/50 bulbs since they're brighter than incandescents, but don't light the game up like a Christmas tree. I'm also a fan of Warm White rather than colored bulbs in the GI to maintain the original look of the artwork (and a number of people just leave the GI incandescent to better maintain that original look).
Re: ghosting, I have the LEDOCD board so no direct experience, but there have been at least some reports that of insert ghosting with conventional LED bulbs. So, unless you want to pick up an LEDOCD (a very cool if somewhat costly product), you may want to go with non-ghosting bulbs for the Playfield Inserts. Non-ghosting bulbs are not recommended for the GI or Backbox though, as those shouldn't suffer from ghosting regardless.
Playfield Inserts (all #44 “Bayonet” bulbs):
(7) “Shoot Again” - Orange
(8) “Special W/L” - Red
(9) “S” - Red
(10) “O” - Red
(11) “R” - Red
(12) “C” - Red
(13) “E” - Red
(14) “R” - Red
(15) “E” - Red
(16) “R” - Red
(17) “A” - Green
(18) “B” - Green
(19) “C” - Green
(20) “D” - Green
(21) “Extra Ball” - Orange
(22) “Bonus Hold Over” - Orange
(23) “Demon” - Red
(24) L. Drain “Special W/L” - Red
(25) R. Drain “Special W/L” - Red
(26) L. Flipper Return “3 Adv. W/L” - Warm White
(27) R. Flipper Return “3 Adv. W/L” - Warm White
(28) All Scores “2X” - Red
(29) All Scores “3X” - Red
(30) All Scores “5X” - Red
(31) Light Below S “2,500 W/L” - Orange
(32) Light Below R “2,500 W/L” - Orange
(33) “1” - Warm White
(34) “2” - Warm White
(35) “3” - Warm White
(36) “4” - Warm White
(37) “5” - Warm White
(38) “6” - Warm White
(39) “7” - Warm White
(40) “8” - Warm White
(41) “9” - Warm White
(42) “10” - Red
(43) “20” - Red
(44) “30” - Red
(45) “40” - Red
(46) “50” - Red
(47) “Lock” - Green
(48) “Adv. Red ‘X’ W/L” - Green
(49) “2X” - Green
(50) “4X” - Green
(51) “6X” - Green
(52) “8X” - Green
(53) L. Drop Target “10K” - Warm White
(54) C. Drop Target “20K” - Green
(55) R. Drop Target “50K” - Red
Playfield Back Panel Eyes:
3 #44 - Warm White [could also try Red or Orange]
2 #63 Flashers (http://cointaker.com/products/63-super-5)
GI:
23 #44 - Warm White
4 #63 Flashers (http://cointaker.com/products/63-super-5)
Pop Bumpers:
3 #44 - Warm White (unless replacing the sockets w/ #555s, in which case 3 #555s)
Start Button: http://cointaker.com/products/555-button
[I haven't installed this yet, should confirm it's really a #555 bulb]
Backbox:
42 #44 - Warm White
[could swap in 6 Green bulbs for the Game Over, etc. indicators at bottom of backglass to avoid washout]
2 #63 Flashers (http://cointaker.com/products/63-super-5)