If you are using the new mydlink app AND upgraded the firmware to 2.00 or higher, this feature has been removed. Unfortunately you will no longer be able to use mydlink Lite app or mydlink.com (portal). I let the camera group know to see if the ability to turn the LED on/off for this camera can be put back in.
If you are still using firmware 1.xx, do NOT upgrade the firmware unless you want to use the cloud recording features.