The reflective part depends on the case: some reflect a bit, and some not at all. I've had Give V46 with red and with clear "reflectors" but they're not reflective, just decorative. The red panels on my E360s are though.
I used some not very bright red reflective tape under the red panels on my old V46. Even with not very good tape it still shows in this pic. I didn't do the center part which is dark in the photo.
If I were doing it again, I'd use this stuff which is much brighter than what I used in the photo and also has a wide viewing angle: http://www.reflectivelyyours.com/generic140.html
In fact I may be doing it again on my new V46 which has the smoked panel. Haven't decided whether to use red or white tape under it.
on my KLR650, and I've ordered a few more for my other bikes. I was going to see about ordering the http://www.customdynamics.com/knight_rider_led_light_bar.htm license plate frame version (about 3/4 of the way down the page) that's got the LED module mounted to the frame already, but the cost is twice what it costs for just the LED module, and I can stick the LED module to my plate frame I already have for free, so...
I have a video of how the one on my KLR looks, and I'll post up when I get the new one in for my Versys.
Capn Kirk's post (#19) is an outstanding reference for a DIY lighting kit. I based my lighting for my E55 and E41's on his specs, and maybe this weekend add a pic or 3 if someone can tell me how to do so. He also added the BackOff XP modulator and has a seperate post on that. Extremely clear with great pics. The biggest thing - I found - was to get the guts to start cutting, splicing, and soldering. Oh, and make sure there's actually enough room under the lenses on your case to put the LED's.