If you want to feel the effect of ABL in Electric you must set the EPA on you breake at least 90 on both speed control and M8. Also set the speed of ABL to around 7-10. I worked on my Robitronics Spirit ESC and helped make a safe hard breaking even if you use front one way.
The Blue LED is basically the same 1.5 volt LED that you can get at electronic shop. Just open the case and you can see the internal PCB with Red LCD. Desolder it, and replace with the blue one, voila...!
To make M8 look like the LE version, you can replace the antenna with Ko Mars EX1 black ant. It's longer and all black. To make the LCD blue, you can simulate by placing a blue transparant plastic over it. Paint all silver parts to black. That's the cheapest way to make your M8 looks like LE