My Lopolight bi-color bow light (probably the same unit as yours) also failed recently -- the green sector on mine. A crewmember had a green LED penlight, so we lashed that to the bow when we came into port.
I called Euro Marine
Trading, and they had me mail them the failed unit. Within two weeks, they had sent me a new replacement. They didn't even ask for my proof of purchase
The new unit is completely sealed with a wire pigtail coming out of a hole in the case (where the wire came out of the original two-piece case). Before I returned my failed unit, I opened it up and inspected the screw connections. There was a slight discoloration on one terminal, but it looked like the sealant
I had used was doing it's job. Regardless, the failure was obviously internal, since one sector was still working.
I still like the Lopolight. My original one has been through lots of salt water
, and even with this failure it lasted much longer than my old incandescent bi-color. I expect the new one to last forever. Well, I can hope, anyway!