Read up similar stuff on a couple of websites, and from what I gathered, driving the LED via pulses actually gives u the freedom to send current as high as 500mA(depends on the diode) in short-duty-cycle pulses. Thus, the average current would be much less, and within safety limits, while higher brightness is ensured. Also, seems some research has found out that the human eye *perceives* pulsed light to be brighter than continuous light of the same luminous intensity.