Legal side of it, as previously said other than white or amber front facing lights, and red or amber rear facing lights, there shouldn't be any others on it at all.
Like I said, generally the cops won't stop you unless you give them a reason to, then it's just another thing to add to the list of offences.
They might 'have a word' if your at a bike meet in the dark somewhere, a good friend if mine attends these on his police bike, a Kwaka ZX10r. He educates some of the silly buggers that go too far. One of his best ones was he spotted 12 offences just standing next to a bike, the owner could have gained 36 points on his licence without even sitting in it!!!!