Can I use the caps lock indicator light for another purpose; like indicating that the current keyboard layout is Greek?
It looks like Karabiner + Seil can get you that.
The starting point: is the “Change CapsLock Key” on this page: https://pqrs.org/osx/karabiner/list.html.en.
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Neither of the programs can control Caps Lock light. Their purpose is to remap Caps Lock key to another key or key combination. – RusI Nov 6 '15 at 13:32