Actually, the MAX912 dual is $6.50, so that's $13 right there. 
They do have a latching output, maybe something clever there to extend the light output if the pulse is too brief. Nothing immediately springs to mind, but it's something that might make sense. Perhaps one single shot that is driven off the lowest voltage output to latch the indication for a short time period?
Making a PCB is the easy part, and if you keep it fairly small, it's even pretty cheap.
