Let the hive mind of Engadget get that for you.
"I need help! I want a small pocket camcorder but I'm not sure which one to get. I don't want to fall into the hype of the Flip because I worry two hours won't be enough. What should I be looking for when considering a small camcorder and where can I get a good quality one with expandable memory? Thanks!"
Fluorescents with electronic ballasts flicker at about 40,000 Hz or higher You can't see the flicker, it just isn't an issue. This includes not only backlights, but also compact fluorescents and every T8 fixture (and even older fixtures when paired with electronic ballasts).
LEDs are generally driven by switching power supplies, so in theory they flicker too. The switching rate is going to be probably 200,000 Hz or higher (perhaps even 100x higher), so you'll never see it either.
The white LEDs in question use single-color LEDs exiciting phosphor coatings. Since they use phosphors like a fluorescent light, they have similar color rendition to fluorescent light in may ways.
Not that 3 color LEDs gives great color rendition either, since LEDs produce line spectra too (perhaps not as tight as phosphors though).