These have been available for decades. A childhood friend of mine had one back in the seventies.

Sorry, let me try that again. </bicycle generator>

I think you're referring to the generator at the rim of the bicycle. My idea is that the generator is integrated at the bicycle suspension.

There might not be enough suspension movement to light the lamp, under normal circumstances, or at least that would be predictable. The rotating wheel on the other hand, is definitely a sure thing to supply a regular stable energy source to capture with a generator.

I think there probably is plenty-enough movement to power mere LED's. Good idea.