After quite a few weeks of drawing plans and building a prototype, I complete abondoned my plans of my 4-player, rotating control panel

Even though I tested it using a poorly cut top panel (the one that actually rotates, I wasn't really happy with the small, albeit distracting, gap to allow it to rotate. I still can use the cp box itself so no big loss.
Although I was opposed to it at first, I think now I'm more keen on making the center of the panel swappable (the outer joysticks and two inches on top for the start buttons will remain a permanent fixture).
I realized that (a) I'd no longer be bound by only two panels, allowing me to make a panel for any need (especially that YDKJ panel I've been gunning for) (b) I'd be the one playing the cab most of the time so I needn't worry to much if "other people can do it without my help", and (c) I realized I can store extra panels in the cabinet.
I've been thinking of making the cps almost cartride-like, using connectors that require only pulling force to remove it (think removable hard drives), while gravity keeps it in place.
Now on to the actual question: I know you can 'hot swap' the connectors for the controls to the I-Pac/Opti-Pac, but can you do the same for electrical connections? I wanted to have light up trackballs and one of the control panel's buttons but I don't know if you can plug stuff in to the Molex connector while it's powered up. Or better yet, can I use a battery to power up the LED's on the control panel itself (I'd put a cheap Radio Shack swich under the front lip to conserve juice when it's stored away)?
Any thoughts, tips, or suggestions would be appreciated. Thanks.