I've wanted to do something of this sort for my PA14 and mount some strips of led lights underneath the mounting rails as deck lights, i guess you could mount some on the outside of the hull and make all kinds of light show effects (Boat Parade anyone?)
benefit of this stuff is it's waterproof and if you cut it and solder wires in to patch it i heard all you have to do is epoxy it.
http://www.amazon.com/300LEDs-multi-...ef=pd_sbs_lg_4