I use a LOT of LED strips... but not too much on any one plane.
DO NOT, I repeat: DO NOT get the waterproof strips. There is no need. They add a rediculous amount of weight, and while a slowstick can lift a bunch, why add weight when you don't need to?
If you need stronger water resistance, shoot them w/ some corrosion x or something, also they'll be taped on right
This is more preference, but my personal, and would be professional(if you paide me for it) opinion is you want the lights pointing to the plane, so the light is difused, otherwise the LEDs can be disorientingly bright at certain angles, and invisible in others.
Neither is good when you have your hopes and dreams in the air at 2am.
I have a youtube video of how I lit a stryker (funcub lit the same way, as well as a slash).
Note, all strips are turned IN lighting the foam.