Interesting that the DemonFX has internal LEDs. This suggests that the FET side-chain of the original may have been replaced by an optical side-chain - why else install them inside the box? It will certainly enable cheaper production since FETs are notoriously variable leading to costly selection and calibration procedures, with a high proportion of devices being unsuitable. But here's the real rub:
IF the FET side-chain has been replaced with an optical link, remember that those LEDs are not gain-reduction indicators, they are actually driving the gain reduction. They will be coupled to Light-Dependent Resistors (LDR - I think I can see a couple of them next to the LED stack on
@johnk_10 's gut shot but can't zoom in enough to be sure) which control the gain reduction side-chain. With those holes in the case there is no knowing how the pedal will react now that the LDRs are exposed to ambient light. Who knows what might happen under high-intensity stage lighting - it is possible that as the lights come up your bass drops out of the mix!! @MuthaFunk - have you tried shining a bright torch through your viewing window to see what happens?
BTW - more than happy to be proved wrong on this one ...