I went over to The Sharper Image store and bought the Inova Blue Led Micro Flashlight (http://www.sharperimage.com/us/en/catalog/product/sku__EM229) then  I wen to Radio Shack and bought the High Output 5mm Infrared LED (http://www.radioshack.com/product/index.jsp?productId=2062565&cp) cause it was the only IR LED they had.

Got home, easily poped open the key chain, switched the LED bulbs after triming the IR to the proper size.

IT was a perfect match!

At first I thought it wasn't working but after much thought I realized that I wasn't being able to SEE the IR light.

So it works!

If im not mistaken most blue and white LED's are around 3v and most IR LED's are around ~1.4v  so this is very true what you say.  The keychange probably has 2 batteries.  I think if you bought a red one it would work better because most red LEDs are about 1.4v as well.

Just might thoughts, i could be totally wrong

Dice