This probably doesn't have any measurable negative effects, but thought I'd share some reasons it make make sense for this to be something closer to 5 seconds:
In practice, unrenewed sessions seem to stay active for something like 60 seconds.
While it's probably insignificant in every regard that matters, it does contribute to congestion. The place this is likeliest to matter is on the hub which probably has relatively limited throughput. I'm using an ESP8266 as a Milight hub, and I've noticed a fair amount of UDP packets dropped when lots of stuff is sent at a time (up to 25% in the worst circumstances).
Looks like this is currently set to one second:
https://github.com/happyleavesaoc/python-limitlessled/blob/master/limitlessled/bridge.py#L26
This probably doesn't have any measurable negative effects, but thought I'd share some reasons it make make sense for this to be something closer to 5 seconds: