I'm not sure if a surfboard counts as a traditional form of transportation, but after watching the video, I had to post it anyway. Looks like they're putting LEDs in everything these days... Apparently a Spanish surfboard company now produces LED-enhanced surfboards for night surfing... Google it...
Personally the flashing/colour-changing would be more of a distraction than anything. Yeah it looks cool from shore, but... I'd be more interested in a few thousand lumens coming from a helmet-mount, so you can actually see the section that's coming up!
Though our friend Noah (Australian rhyming slang, figure it out) might also be highly interested...