At the moment the only LED I have seen has been when a message arrives. Is there supposed to be a charging LED?
There's one on the side where the microUSB attaches. It's white and then goes off when fully charged. The blinking notification LED can change colors, for instance, when a new message arrives, by default it's green. When the battery is about to die, it turns red.
There are apps to change the LED different colors, such as the Touchdown app for e-mail. You can do different things with it depending on the notification, mail, appointments, etc...
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Thanks dude! I am coming from a G1 and am accustomed to the LED's all being in one location, it obviously never dawned on me to look on the side. But now that I think of it I remember seeing the white light glow.