[mtnmedic]

That's a hardware issue. I doubt any software will change the color alone. If the hardware light itself supports multiple colours then yes, its possible. In such a case, there'd be different colour LEDs or filaments. But even if it did support more than just white, why didn't HTC take advantage of it and enable it on this phone for an even bigger "wow" factor?'
Would've been cool, actually. Instead it appears to be a single colour (that is, null colour) light and a series of different flashing patterns to indicate what type of activity is occurring.