If using a fan make sure its not too powerful - don't want to blow components off the board while the solder'sstill molten(!). I think I would use a blower pointing inwards to prevent the fan blades melting from the hot air, andhave the exhaust port just a metal grille. To prevent leakage of hot air during operation I'd suggest mounting the fanand the exhaust port on the underside (and add some legs!). Or skip the exhaust port and just open the door.Just my thoughts.With my toaster oven I've moved the heating element that was underneath to the top so there are two at the top now. I open the door and _carefully_ slide the shelf forward to get more cool air on the board(s) - it seemsto work but I'd rather not risk disturbing the board of course.
Of course an LED isn't compatible with high temperature, but a small 12V halogen bulbwould be, there are holders for them with glass-fibre insulated wires too.