Not sure about the settings on that device. But, go to options / bluetooth options and within those options you should be able to turn off the led indicator...
The most recent post in this thread before today was 2.5 years ago. I had the Bluetooth LED disabled on my 9630 and have it disabled on my 9650 and have not had a problem with it. Unless you have a very old BlackBerry, you are unlikely to experience it.