Looks like nobody replied to this. Given the few days that have past, you may have already resolved this issue, but I'll have a go at it anyways. My first thought is that since the light stays on even when the device is off, it could very well be a hardware defect. My second thought is that you should open up the flashlight app (or download one from the play store if it didn't come with a rom) and attempt to toggle the LED via the app.
Remind me to hit the thanks button if you helped me!
nook color: Rooted w/ PA 3 | Android 4.2.2 Jelly Bean
Droid [sholes]: Rooted w/ cm7 nightly -frequently updated| Verizon | No service
Nexus10: Rooted w/ cm10.2 nightly -frequently updated