I switched to a blue LED with my logitech iFeel over a year ago and I've never had any troubles!
Specs:
Radioshack 5mm Blue LED
Forward Voltage: 3.7 typ, 4.5 max
Forward Current: 20mA typ, 30mA max
Luminous intensity(brightness): 2600 mcd
Radioshack part # 276-316
All you have to do is take out the screws, remove the covering(take care to remember where everything went!!), de-solder the LED contacts(remember which way the fat fin inside the LED was facing), remove the LED from the clear plastic lens, replace it with the new one, cut off the bottom wires, and solder it back in place.
Note! Soldering is pretty tough with machine soldered boards, so be careful! It helps to have a clamp or have someone to hold things for you, because you really need 3 hands to do the job properly