Very bright red and blue lights in packaged game

Yes, there was actually a known issue with arrow components causing the viewport to bloom extremely in packaged projects (UE-28649). Try removing the arrow components to see if that resolves the issue.

This issue was marked as fixed for 4.12 as we could not reproduce the issue in that build version. We ask that you remain patient while this engine version is released and the fix is there for you to test. The preview release for 4.12 will begin very soon, so you can test the issue in that build and let us know if it still occurs.

Thank you,