I've noticed this Christmas light effect on all videos with the LED tail lights (check out the Fabspeed videos testing their 997.2 exhaust).
I suspect that the LED lights are not constantly "on" light like an old fashioned bulb and flickers at a high rate like a florescent bulb. It flickers at a high enough rate that our eyes can't see it. Couple that with an electronic shutter on a camcorder the refreshes (blinks) at a high rate and you see that effect.
I hope someone with more knowledge will add to this theory of mine.