doubleOO, I think the reason you are getting conflicting voltage readings across the LED is because you are using a 5v LED. By using a 5v LED this means that you are using an LED to which the manufacturer has already fitted an integral current limiting resistor making it suitable for operation on 5 volts. What you don't know however is to what value the manufacturer has limited the current through the LED. You are basing your calculations on the LED passing current are 20mA (the divider value of 0.02 you quote) whereas the 5v LED may (and probably is) taking less current than that which means your additional current limiting resistor is going to drop less voltage than you expect. To be able to accurately calculate the value of your addition series resistor for operation on 12volts you will need to measure the current the 5v LED is taking when connected to a 5volt supply and then use that figure as you divider (as you call it). To be honest though this is all a bit academic as the important thing is that you don't allow too much current to pass through the LED ie. keep it below 20mA. As SOL has said, a normal LED usually requires about 2volts and for use on a 12volt supply the calculation would be 12-2=10/.02=500ohms but as 500 is not a preferred value a 560ohm resistor would normally be used. However, as its not a good idea to drive an LED at its maximum I would suggest using a divider (again your word) of .01 (1mA) which will give a resistor value of 1000ohms (1kohm). The difference in brilliance will be barely noticeable and the LED will last just about for ever. In view of all this, I would simply put a 1kohm resistor in series with you 5volt LED and see what it looks like in the safe knowledge you're not going to do it any damage.
As regards the reverse voltage figure, unless you're likely to reverse the DC supply to your LED or attempt to operate it on an AC voltage I would disregard it.
Steve
As regards the reverse voltage figure, unless you're likely to reverse the DC supply to your LED or attempt to operate it on an AC voltage I would disregard it.
Steve