I'm using BeBuzz Free which is pretty good, depends what you want it for? I only use my custom LED for phonecalls, if you want it for just phonecalls the BeBuzz Free is good - if you want it for everything else too then maybe the full version?
Posted from my CrackBerry at wapforums.crackberry.com
Also agree with Motorcycle_mama. This is one of the few paid apps I have on my phone. It is worth it. It works flawlessly and has integration with lots of other notifications.
BerryBuzz is without a doubt one of the best apps I have bought. I have had it for about 1 year and would not be without it. Well worth the money, even when paying to upgrade to newer version!