I'm going to build a Really Cheap Bass Comp soon (ET build took a few shits) and was just wondering what the best way to wrap the LED/LDR combo would be. Do I want to take both LEDs and point them at the LDR then wrap it? It's going in a box anyway so can I just leave them bare (though I know that's not ideal?)
You can leave them bare if you get no light leakage from your indicator led (if you use one). If you use a bezel with a black rubber plug, or something similar, you should be fine. If you don't use a bezel, or the bezel has a clear plug, you should wrap them.
You can put them in a plastic tube, like a cut down bic pen, you can heat shrink them, or you can wrap them in electrical tape. It doesn't really matter as long as two requirements are met.
1. The light from the led should not be blocked (aggressive heat shrinking can do this).
2. No other light should hit the ldr (so if you put them in a tube, the ends of the tube should be lightproof).
In my cheap compressor build, I left them bare. It works great.
A blob of black silicone adhesive could work as long as it's non-conductive. Or some liquid electrical tape, if you happen to have something like that lying around. A dab of nail polish in the right spot might do in a pinch.