NoLed is a visual notification app that pops up small light on your screen. I use it as well. Works great for gmail, sms, missed calls etc. I will not work if you have your phone set to vibrate though on some of the notifications. I had trouble with yahoo mail as well so I added K9 mail. It works great for that.
Basically compensates for the lack of the LED notification some phones have.
Thanks and Thanked.
Have you noticed any particular battery drain when using NoLED?
All the Best!