Both of the layouts are pretty much the same thing, but I'd go with the FuzzCentral one if I were you. It seems easier to follow, as each section occupies its own column; first column is input, second is output, and third is LED. As for the resistor, you might want to play around with different values to see wich one gives you the brightness you want. But you are correct about what the resistor does.
Edit: Whoops, just noticed the Tonepad one grounds the input when the effect is bypassed. Not really sure what this does, but the FuzzCentral layout should be fine for your pedal.