Has anyone thougth of making the LED flash for the camera be able to be used as a flashlight or to be able to make it stay on for a period of time?

Wirelessly posted

Some people have set one of the convenience keys to open the camcorder function. Set the flash to always on in the camcorder so that when you press the convenience key, it activates the camcorder with an active flash light enabled. Gives you a flashlight in about 2 seconds or so. That's what I do anyway.

There is no dedicated application for that.