I could definitely sell LED illuminated sculptures. I actually already have an Etsy store. My primary income is from Amazon but this sort of item would be well suited for Etsy. The stumbling block for me is dealing with the red tape involved with manufacturing and selling this sort of electronic device. I looked into it a bit and then decided it's over my head. I can still play around with it as a hobby but I don't have a lot of space in my house for decorative glass sculptures. The great thing about this sort of thing is you can continue to program it with new lighting effects so it really never gets old.
That's really cool about the color filters. I would never have guessed it!
I also used plotter cut vinyl for the designs on the piece in my video. But in my case I applied the vinyl to the projection surface, sandblasted, then removed the vinyl. Where the vinyl was the glass was protected from the abrasive and stayed clear. Everywhere else it was frosted, which gives really nice diffusion and forms an excellent screen to project on.
The licensing thing is tough. I think you could make some really nice ones by collaborating with talented, but not overpriced, artists. I'm sure there are some out there who would be thrilled to see their work in this format and actually I think some customers would really like less commercialized imagery. However, the superhero switch concept you have really does work perfectly with this!