I don't believe any LED bicycle lights are utilizing a "projector lens optic" consisting of an ellipsoidal reflector and a condenser lens. LED emitters generally have a much different radiation pattern than a incandescent [or HID] bulb. As others have said, the German made bicycle lighting has cutoff, but I don't think they would be considered to have a "projector lens optic".
I have used a B&M Lyte, it appears to have an aspherical optic that is split in the middle. It provides a cutoff. I have also used a Edelux light, it has a reflector and a window. It too provides a distinct cutoff.
Last edited by krome; 05-31-12 at 10:52 PM.
Reason: added [or HID]