Extra cooling is always welcome. First motherboard manufacturers started putting a passive heatsink on top of the chipset. Then, they started putting active heatsinks, i.e., with fans. Nowadays almost all motherboards have active cooling on the chipset. In order to attract case modders, manufacturers started using fans with colored LEDs inside. You can find motherboards that glow in several different colors like blue, green or even changes the color from time to time. Some motherboards look like night clubs! Take a look on some examples below.
But this kind of feature – putting a colored LED inside the chipset fan – is just cosmetic. Some motherboard manufacturers are really doing something different for improving the motherboard cooling.