Pros: Easy to install, Great upgrade from a clear lamp, Cost a third of a regular color lamp.
Cons: Colors aren't as defined as in a regular color lamp
This is the best upgrade my swimming pool has received in its 5 years of existence. Incredibly easy to install by myself as a replacement to a burn-out clear bulb. Just removed the single screw holding the lamp to its niche, uncoiled the cable to get the lamp out of the water, disassembled the lamp, replaced the bulb with the Color LED lamp, and reinstalled everything back. All done in about ten minutes. The lamp is very easy to operate by using the existing switch and timing between the on and off states. Most of the colors are very bright. Love the deep blue, which makes the pool look like glowing. The red is not as bright, and looks kinda gory (but for some strange reason, my kids love it).
My kids are happy, the wife is happy, and I'm very satisfied. My swimming pool looks better than ever. And best of all, it cost a third of what would have cost me had I bought a regular color lamp.
Thanks, Inyo!