iOS comes with built in LED notifications. The Camera Flash will work as LED notification alerts for Messages, calls and most of the third party push notifications. To turn on LED Alert just go to Accessibility in settings. Sparx has developed new case for your iPhone 5 which is based on LED Flash alerts. Sparx illuminates for all your push notifications. Here is the cool video of the case.
I really like this idea, how about you ? But unfortunately the funding was unsuccessful. Check out the kickstarter page for this project