None that I can find. It's unlikely Apple would approve something like that since it would entail modifying core functionality. However, it sounds like something Apple should consider having as an option in the settings for the hearing-impaired. Perhaps you could suggest it. Apple - iPhone - Feedback
I don't get it.. the led is on the back of the phone. Are you going to lay your phone face down all the time? I can see it not being an issue if you use one of those plastic things on your screen but I don't know many people that do.
I just can't imagine putting my phone face down ever.
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