Looks like a fun ride, but you'd be a fool to drive it at night. 12 5W LEDs at a nominal 120 lumens each - so you're burning 60W of electricity to produce only 1440 lumens of light. Contrast that with a 35W HID producing 3200 lumens. (40W total due to ballast, but big deal.)
If I were designing a motorcycle with a top speed of over 400mph, I would install headlights that would give me at least 5 seconds reaction time. That would be about 2930 feet, over half a mile. HID headlights can achieve that. 12 5W Luxeons can't.
It's not just a question of energy efficiency (where the LED is clearly inferior to discharge lighting) but a question of the maximum practical amount of light in the minimum mounting volume. HID wins on both counts though.
I think the Dodge Tomahawk is a pretty neat concept, the barest minimum amount of framework around a big engine. Kind of like the design of the A-10 Warthog, the barest minimum airframe built around a huge anti-tank gun. (It's not a plane with a gun, it's a cannon that can be flown. The Tomahawk isn't a bike with a big engine, it's an engine with a couple drive wheels and a seat.)
But using Luxeons for headlights on this concept was a mistake, and is purely for new-wow factor instead of for actual performance. A shame, because with an engine like that you would expect the rest of the vehicle to be pure-performance oriented too, and in this department it's clearly not.