If I do happen to mention "stats", I try to refer to x number of lights controlled by x number of channels to give an indication of show size and complexity.
Since the numbers game originated long before animated lighting or LEDs, the impact for "number of lights" has been diluted a bit. In the old days if someone was running 10,000 C7 incandescent lights in a static show, there was a direct correlation to the amount of power being used. A damn powerful show indeed.
RGB LEDs throw a whole new curve into the count, and its all personal on how you want to spin YOUR show. Personally, I choose to estimate (who actually counts them) the points of light I'm capable of turning on at one time. I cannot display pure red, green and blue at the same time out of an RGB node, so it counts as 1 point of light in my book.