The hardest part would be trying to remove the epoxy casing without ripping the insides apart with it.
The LED guts (leads, die cup, and bond wires) are all assembled, and then a mould closes around the assembly and fills with molten epoxy resin. So it's seamless (the fill point is probably at the lead-in wires) and fills every little space.
If you were to get the epoxy to break at just the correct point, chances are you'd trash the microscopic bond wires, ruining the LED.
But if you *somehow* got damned lucky, and the epoxy encapsulant broke correctly *and* there was an air bubble over the die & enclosing the bond wires (which prevented the epoxy resin from touching them at the time of manufacture), then your LED would still work.
You would then only need to worry about air currents breaking the bond wires, and atmospheric contaminants like water vapor, Pepsi vapor (and other chemical vapors) and particulates altering the chemical composition of the chip or corroding the ball bonds.
LEDs are delicate little things once you've relieved them of their protective resin homes.