There is a hardware fix for this from Nokia Care, but it is not a really good option for anyone with only one device or for anyone whose phone is no longer under warranty.
After trying a number of reassignments of the light notification and not being pleased with any of them, i decided to try something new: i removed the key's overlay and made it transparent by sanding it.
To be perfectly honest, i would do this differently given another chance, but the way it is now is the best solution i have tried.
It is a one-way street, though, and if you try this out, there is no going back (so be cautious).
The process is actually
very simple and requires only three tools:
A hobby (X-Acto) knife or a scalpel, a hot glue gun and sandpaper over 400 grit.
The process:
Using the hobby knife to pry up the key, catch its edge with any thin, flat object (like your fingernail).
Use the knife to
delicately cut the key free of its place on the lens beneath it.
Be very careful not to cut the lens itself but only the adhesive holding the two together.
Use the knife to scrape free any adhesive left on the lower lens (which is made of silicone) and the polycarbonate key's back.
Now this is the step that requires restraint: sanding the back of the polycarbonate key overlay to remove the black-out for the light. The trick is to remove only enough to let a proper amount of light through to be visible. i removed
all of it and almost immediately regretted it. You can test and tune by sanding a bit and then putting the key back in place without gluing it to get an idea of whether or not you want to remove more of the black-out.
The next step is the most crucial and required several attempts before i was happy with the result; applying just enough hot glue to attach the key overlay without impeding the press function. You will have to apply
just a small drop of glue to the dead center of the silicone button cover and quickly place the key overlay back on it, applying just enough pressure to it for a secure bond without losing too much of the spacing effect the glue will have (if there is too little space, the button will be difficult to use). For best adhesion, thoroughly clean the surfaces of dust and any contaminants (like oils from your fingers) first.
[youtube]http://www.youtube.com/watch?v=ljZOlmmPDa4&feature=youtu.be[/youtube]
Edit: Moved picture off-site