This is something I have been working on for some time now. Its a flash and continuous light for photography and videography based on Arduino. I'm using warm white and cold white Philips Lumileds high power LEDs controlled by Texas Instruments LM3553 LED driver on I2C. By controlling the power of cool LEDs and Warm LEDs it's possible to adjust the color temperature of the output light to match surrounding environment light in the picture.
There's also OLED display on I2C bus and couple of buttons (I/O) to change the settings.
I haven't seen any freely programmable flashes or video lights out there so this might be of interest to many.
Feel free to check out the crowdfunding campaign on indiegogo: http://igg.me/at/valo/x
Ideas, comments and feedback are highly appreciated!