Don't worry, there are no complicated ratings for LEDs for what we are doing with them. You are going to use it at a relatively low current, around 10-20mA, which is fixed by the circuitry in the TM18. You won't notice much difference in light level within that range even though it seems wide. For my own gear which I build or mod I usually run them much lower than that for use on stage in lower lighting when they can seem like spotlights, it's a bit of a matter of taste. Effectively the TM18 will "squirt" close to the same controlled amount to any LED you put there.
LEDs are a form of diode which all have a strange characteristic as you increase the voltage you put on them. Connecting them one way around they refuse to pass any current at all, they are "reverse biased". The other way around, "forward biased", they pass almost no current at all when the voltage is below a certain level, the "knee voltage". The diode circuit symbol shows you that. From one direction it is an arrow to show current can travel that way, from the other it is a bar showing current is blocked. When the voltage reaches the knee voltage level they begin to increase the current they pass very sharply and the current increases enormously as you increase the voltage just a little beyond that point. For a red LED the turn on point is usually at about 1.2V-1.5V depending on type and, if you try to force a larger voltage onto them, at around 2V-2.3V you will have destroyed them. Here is a link to a useful diagram showing this:
LED VoltagesThere are exceptions which are made for heavier use but for the class you are using in your pedal they will turn on around 1.2V and the TM18 will dictate how much current they then draw. The TM takes care of the safety of the LED by adding a resistance in the feed to them which "soaks up" any excess voltage beyond their turn on point without allowing a huge increase in the current. Imagine a garden hose with an On/Off valve or tap at one end and an adjustable nozzle at the other. Connecting a voltage to the LED is like turning the tap from off to full on. Without the nozzle there any amount of water can flow and you, your garden and your cat get soaked in the backlash. However, fitting the nozzle acts like the resistor and restricts the flow to the level you want. Choosing the value of your resistor is just like adjusting the nozzle.
Just get any general purpose red LED which fits the hole you are filling. Make sure NOT to get a type usually described as an "indicator" which has a resistor built into it as this will interfere with the TM's control of the current and limit it too much. Yours will be "3mm" types. There are 5mm and 10mm available which will work but they won't fit. You can find plenty of simple info on this online. For the record Green LEDs have a higher turn on voltage level than red, and Blue are higher still. You can see that in the graphs in the link that I posted earlier, there is a plot for each colour type (and for IR and UV types too).
If you change to a Blue LED from the pedal's original Red, the Blue's higher forward voltage means the TM18 will push in less current. The other LEDs, the switch and front panel LEDs, all share that same current. This means that all of the LEDs in the chain may not be as bright. Light levels also vary even for LEDs of the same colour so a lot of that will be "suck it and see". My guess is that it won't be too much of a problem if you just get a general purpose Blue type but it will be a little different and you may not like that. LEDs are usually not expensive so you could easily get a couple of each colour and try them out.
It's hard for most people to get the idea that the LED responds much much better to the current you push through it than to the voltage you try to force across it. In the first instance we all think of voltages when we think of electrical stuff. You can't think that way with LEDs, they are NOT at all the same thing as bulbs! See if you can look at the graphs and imagine what happens to the voltage on the LED as you change the current through it. Slide your finger up the vertical Forward Current axis and then horizontally across to the Red plot line and down to the horizontal Forward Voltage axis. Try that for a low current and a high current. You can see that if you control the current you can vary that a lot and get only a small change in Voltage. Now do it the other way around starting on the Voltage axis and moving up and across to the Current for a low voltage around the knee voltage and then for an only slightly higher voltage. Look at how much massive variation there is then in current if you try to control the voltage within a small range. Remember, nothing in electronics is ever exact, components always have tolerances and some are quite large. Voltages will always vary by a significant amount and good design removes most of the effects when they do change. You control LEDs by setting their current and letting the voltage take care of itself.
Hope this all helps!