You are correct.
Those are your flashers.
Should be 6 of them if memory serves.

I did LED's in my Whirlwind and really like how it turned out.
Plus they put less stress on the connections.

Feel free to drop a PM if you have any other Whirlwind questions.
I did a full restoration on mine and learned a lot.

Also, if your Whirlwind doesn't have the cellar/ramp protectors from Cliffy then those are a MUST BUY!

http://www.passionforpinball.com/whirly_pros.htm

Here's and awesome site a guy created to shop your whirlwind.
I used it when I broke down mine.

http://webspace.webring.com/people/sl/loupz/whirlwind/whirlwind-shop.htm

Really helped me out.
And for each step I put all the parts in individual brown lunch bags and labeled them.
Made it a snap to put the game back together (plus the fact that I took 100s of pics).

Yeah. No pics but a great step by step guide to stripping the playfield.
If you need pics of any of the steps I took tons during my tear down I can send/post.