the red light on the bow became intermittent and then dead, a small chance it was wiring, but Lopo replaced it. The lights have a DC-DC downconverter in them, so there are certainly failure modes where current could be drawn but no light come out. The replacement light does not have the screw terminals, which seemed like a weak point in the system: they now have a wiring tail coming out of the potting so that you can more easily seal the connections.
4 failures in one installation certainly would provoke one to take a look at the installation procedures and/or operating conditions. If you look at Volvo round the world race boats or most any long distance single handed class (Open 60, Class 40, etc.) , Lopolights are preferred by an overwhelming margin, at least a testimonial to their durability. I know with the old Aquasignal lights I was surprised anytime the switch was turned on and they actually worked.