V+ would be the 5V+ from the micro-usb when plugged in. So when would be 5V+ even if it's not charging (Battery fully charged)
But if I where to desolder the LED, then the pin 7 of the TP4056 should act as ground when the light should be on. But should it also act as 5V+ when the light is off?
Or would it act as a resistor when the light is off and there for (in coupling with the external resistor) be a voltage divider?
Again, referring to the little information in the datasheet.
When the battery is being charged, the
pin is pulled low by an internal switch, otherwise pin is in high impedance state.
Or is that exactly what you mean? 