Apple Will Sell App-Enabled, Color-Changing Light Bulbs
mashable.com
mashable.com
Basically the R&D costs for this type of product are in the tens or hundreds of millions of dollars. Because this is blazing new trails in material science and electrical efficiency of individual components, it's impossible for a modestly funded startup to get the disruption factor by identifying shortcuts or optimizations.
The hard problem is making an LED bulb that competes with incandescent or CFL bulbs on both quality of light and total cost of ownership. So far I haven't seen Lifx come out and directly claim that they are trying to solve that problem (but please let me know if they have, I'm curious).