@irontoenail - It doesn't bother me at all. I'll often fall asleep in front of the television even and I have a glowing alarm clock as well.
I do wonder if the color and consistency of the light makes a difference though. I mean, if you have blackout blinds or shades they would block random flashes of lights from cars, or lights of brighter colors like white or blue from entering your room.
Red isn't a bright color for a light though, so I imagine that's why they usually make clock radio lights red. I'm not sure why they don't do that for other kinds of electronics as well, in that case.