I suspect the point of this is that a display built from light-emitting diodes is not going to need to be backlit. Since LCD and not LC is the common abbreviation, and blah blah blah
iMav should change the name of this site to just "hack" because there seems to be a lack of geeks in attendance.
The actual display of an LED monitor/tv is absolutely no different from a regular LCD panel. A traditional LCD has pretty much always used CCFL tubes for illumination, as the liquid crystal matrix does not produce light, it only filters wavelengths to give the appearance of colour. An LED display uses the exact same LCD panel, but with a matrix of white LEDs to provide illumination. White LEDs are a recent advancement, so the availability and cost of CCFLs versus white LEDs are the reasons for why things have been this way for years. We'll save the TN/PVA/IPS talk for another lesson.
If anyone here remembers high school science (at a minimum), electrically exciting a tube of gases produces a spectrum with "spectral lines" that are gaps at certain wavelengths. Combining gases helps to overlap these spectral lines, but they can still be dimmer than the rest of the spectrum. This is why CCFL lighting has a limited colour gamut, and combined with the lowly 6-bit TN panel technology that has flooded the marketplace due to its cheap price, results in relatively poor colour production. Since the CCFL tubes are mounted above and below the panel, the bending of light that has to happen in a CCFL lit LCD also reduces the colour gamut, look no further than the cover of Pink Floyd's iconic Dark Side of the Moon album to refresh your memory of high school physics. The placement of the CCFL tubes also causes uneven light distribution, and light bleeding when not properly controlled. CCFLs also age, reducing light output and also dropping portions of the spectrum. CCFL lighting requires power circuitry to increase the voltage, which has been known to malfunction in panels that are not engineered properly (I've fixed more than my fair share).
White LEDs stand a much better chance of producing a proper spectrum, as long as they're made properly. The LED matrix also provides a far superior light distribution pattern, does not require high voltage conversion, and is much more efficient.
To some, I am Rickipedia...