I'm a huge fan of this technology. Our shop and house have been converted to LED, and there are many programs out there to do this for nearly free. ($2.50 per bulb, any size, is the current offer from our electric company's partners) The old bulbs produce mostly heat, with very little light. The LED bulbs produce the same light, at the desired 3000k, for a fraction of the wattage/electricity. For example, we replaced our 50w halogens with 7w LED bulbs - and they're brighter! They're also a lot cooler. Halogens run up to 327F, while these run at about 110f.
The packages claim that they don't fade art, etc. They also advertise that they won't attract insects, due to the lack of UV light spectrum. (interesting for a patio fixture)
These are interesting claims, and while I bet they are
mostly correct - it would be nice to see some scientific evidence to support it. From what I've learned on the forums from experts such as Hugh, there are multiple factors that can cause fading. The UV light happens to be one of the largest.
Rob Markoff will probably have a better answer and has done a lot of research on this topic.
Mike
PS: Here are a couple boxes from spares I have sitting around the house. One of them has such a claim.

