Arcam would be the best people for a specific answer.
I'd say it's a light emitting diode, being used in their circuit for its specific diode, rather than its light emitting properties. (It will have a higher volt drop across it than a standard diode).
In other words, its light emission is a by-product of, rather than the reason for its use.
(Although, obviously being off would tell them which part of the circuit was dead).
Maybe check with Arcam, then let me know if I'm talking ****ox.