I agree with the above poster, a 3watt Luxeon would be a better choice. Most of the multi LED lights are cheaply made and certainly not waterproof. Something like this would be a better choice:
http://cgi.ebay.com/u43-3-Watt-LED-F...QQcmdZViewItem
Although it is probably not a true Luxeon LED it will still be brighter than any multi 5 mm LED light.