Yes. Looking at the documentation, Hypex provides a connection point that isn't connected to anything (that's what Rick means by "open collector output" unless there is a clipping situation, at which point that connection is switched to ground. When it is switched to ground, it will pull voltage through an LED and resistor combination.
So, Vaux output (J6.1) gets wired to the anode (longer leg) of an LED, then from the shorter leg to a 2K-Ohm resister, and then to J4.5 (for Ch 1) or J4.12 (for Ch 2). Vaux is at 19 volts max, and a 2K resistor will pull 10 mA through the LED. I think most standard LED's would be fine with that, but a higher resistor will pull less current, so that can be tailored. I see a zillion T-1 (3mm round hole) LED's at Mouser for under a buck. I probably already have some in my parts bin.
I'm thinking a single wire from Vaux to Ch1 LED anode, and from there to Ch2 LED anode, and then wire the tails through resistors to the clip signal pins via separate wires.
Rick "looking for validation from those who can, and then providing detail for those who can't" Denney