OK, a number of people have reported the "fading trackball" issue. On observation, today mine is almost back to white.
This appears to confirm that the light that we are coloring generates heat. AFAIK that is all it could be. [See my pic of alleged "fried" ink.]
I am most interested on how the scotch tape colored blue trick works. Will the tape fry and fall off as any tape would when coming in contact with heat?
In the meantime, I am looking at alternatives since we can't be pulling apart the trackball every week to color it.
I have some other inks that I am going to try, they may be heat resistant [e.g., various brands of fountain pen ink].
I will clean off the Sharpie ink residue, apply other inks and report my findings.
Most interesting indeed [and kind of fun, another pretend problem to tackle. I say "pretend" because we have no business tearing apart the Pearl to color lights, etc.
]
Sidenote: No one has commented, but see my observations and query that these "LED" lights may not be LEDs at all since true LEDs should not be generating heat sufficient to fry Sharpie ink.