I’m going in a slightly different direction (but aren’t I always…? 
)
I just received a pair of these http://www.ebay.com/itm/252016192332 which were $4.20 including shipping for two of the 50mm size.
The first job on the Nomad after the recent teardown and rework (more about that later) will be to make a housing that fits on the spindle cartridge. I plan to make it an interference fit, probably using an o-ring. Here is the ring temporarily powered from the 12V system fan header on the stepper control board. These are non-flash photos.
The light ring is very bright.
I’ll ask the Carbide crew if the system fan header can source enough current for the fan plus ring, and if so I’ll tee it in. Otherwise I’ll build a little board to regulate some 12V independently from the 24V power supply.
Randy