The Model M that I bought didn't have working LEDs either, and I fixed it jumping the ribbon connector with wires. It seems that the ribbon was somehow disolved or fried with overcurrent , maybe because of water ingress at some point in its lifetime.
The wires I used were telephone extension wires, which had the advantage of being single filament wires, easy to push through both connectors.
Luckily I kept the pictures:



It would be very rare for the small LED pcb to be damaged, it has no logic in it, all it has are LEDs and a connector.
If the LED were damaged, you could solder new LEDs with your favorite color (blue, red, etc). There is a current limiting resistor in series with the LEDs on the main board, so you don't have to worry about the mainboard.
Cheers!
.KeyHopper.