what you are referring to are LED lights. They were actually started in fishing boats to attract fish towards the boat. They make it especially easy when catching bait fish in a net.
They have expanded over the past 5 years to be included on most any type of boat. People seem to like them on cruisers when sitting on the back, and I have even seen them as an option of some very top end performance boats. There was even an episode on ship shape tv on installing them.
I do not believe they are "regulated"....... But give it time...
