It is a single white LED, it is very dim, like the moon, you can see it but it isn't there for night viewing, it is supposed to simulate moonlight and on a 120 the effect is fairly realistic I think.
The mode may change and the moonlight/night mode settings may be turned off but it depends on how long power is disrupted and if it flickers or just shuts off, intermittent power is more likely to change the settings than a clean off and restart. All of your timings will remain the same as they are set by knobs.