I'm a bit late to this party, but I recently converted my LoVo light to an MR16 12v led, replacing the 440v transformer with an led driver. Because the 3 phase motor is run off a vfd, I decided the easiest way was to run a seperate 240v supply to the lamp and the coolant pump, and this supplies the driver which sits in the transformer box in place of the old 440v transformer.
I wish I'd known that adaptors from BC to MR16 were available though - I spent far too long faffing about making up a plate to hold the new lampholder! It works a treat though, with a daylight led lamp in (6000k I think) and if it gets damaged or splashed with coolant there is only 12 v to worry about.