Audioguru writes “his is a spectacular but completely useless project. It lights Ultra-Bright LEDs in a sequence and each LED flashes brightly very briefly. The LEDs light-up going around and around since they are mounted in a circle (on a CD), then they pause before chasing again. The very brief flash of each LED (15ms) and the pauses (1 second) reduce the average current so the battery should last a long time.” – Link.
6V Ultra-Bright LED chaser