TO LENOVO: A very easy fix to this annoyance would be to put the power button on the side of the laptop rather than the front. The advantage of not having a bright light at night outweighs having a color indicator to tell me my battery is dead (I am usually pretty good at knowing this by myself).
Since I "colored" this button red, it is now difficult to see this warning. With my Thinkpad Yoga when my battery is low, the power LED will flash orange. NOTE: If you do this, it will remove the ability to detect when your battery is on low. While searching for a solution, someone on Reddit suggested them. If you are not a fan of using a marker on your laptop for whatever reason, you may wanna give these LightDims a try. At first, I did not think this would work great BUT it actually did a very good job. What I did was take a red permanent marker and I " colored" the power button LED. Blue light is the best for attention, red/orange light (or anything on that side of the color spectrum) is the best color light for nighttime use. I am a neuroscientist, here's a quick breakdown. I tried tape and as you noted it looks bad and is not permanent. I had a similar annoyance as the original poster.