The problem I have with LED is it takes a lot of training to learn and use the information a blinking LED can convey. I had LED notification and even after repetitive use I could not always decipher what shade was being offered. I knew I had a notification, but not about what so I would have to open the phone anyway just to get clarification. Pointless.
With Glance your Lock Screen notifications can get forwarded... So whatever you set for Detailed Notification forwards; In my case I use Calendar and I always get a clear text written out of my next appointment on Glance. Also your Quick Notifications get forwarded which is up to 5 items that show as icons with a count next to them if they exceed 1. So in my case I see icons on Glance for Phone/Messaging/Primary Email/Secondary Email/Battery with %. Both emails are at different accounts so the icons are rendered differently. Once upon a time I had 2 emails at the same service and I simply separated them widely in the order and could tell them apart simply by position on the screen. I also get the Time, the Day of the Week, the Date of the Month (including month name), an Alarm icon if there is a pending alarm set and the Charging icon when the phone is connected to a charger/USB/Qi.
All of this is clearly labeled and readily identifiable just by looking at the screen while it sleeps. I know if I had a Phone call vs a Text, or which Email has a message - even if I missed the alert tone. No guessing. Just straight and clear information. And what you have for Detailed or quick is obviously selectable from your Lock Screen settings and therefore your Glance can be customized with the presented options.