Right. See http://www.robotroom.com/DPDT-Bidirectional-Motor-Switch.html for how to put that together with the limit switches (scroll down to the last schematic). You would have your LEDs light up by connecting them to the normally open side of the limit switches.
Okay... that's perfect! It's settled... no arduino.
For a first post to the forums, you guys are great! Thanks for the direction and information.
Of course, this year I also want to build a race computer with GPS, multiple video streams, and engine data overlays... so who knows what will happen with that.