For what it's worth, this is straight from Hoppy's manufacturer, on why not to use the 46255, with LED lights. Mine went out, and when I contacted them, got this information:
Thread on Hoppy 46255Need more info on what was installed. Hoppes powered 5/4 converter??? Non powered unit??? Installing LED's might be bad if the unit is a Hoppe's #46255. They have another unit for LED trailers.
I used the 46255, as did several buddies. I recommend this because it will work with both LED and incandescent bulbs. The difference is that the 46255 can pull more current for incandescent or more lights. Won't matter if you have LED or not.
As long as you are going through the taillight converter you will have no issues with the power draw of standard lights. I had the same set-up on my VTX which doesn't have near charging system or the wiring harness the Valk does and put about 18,000 trouble free miles through 20 states before I sold the bike and bought my Valk.