Has anybody built an indoor IR light source for a CED chronograph, or the Shooring Chrony for that matter? If so, what was the LED wavelength used? $100 or so for a few LEDs and battery pack seems a bit excessive to me.
I haven't built one, but I know quite a bit about the IR LEDs.

Their wavelength range and form are about the same, with 850nm being the average. I bet you CED or any other manufacturer won't be getting any 'special' IR LEDs - first, because there are none, and second, because the phototransistors used in sensors also have a wavelength form that's pretty standard - not because all the manufacturers decided to make it so, but because that's how semiconductors work. I'll skip the details, I'm sure I bored you enough already.
The bootom line: get yourself a couple of IR boards from dealextreme for under 5 bucks, power them with a 12V source, and be happy! Here's one (2boards, actually) for $3.46 shipped:
h ttp://www.dealextreme.com/details.dx/sku.31592
If you want to flood the hell with IR - for cheap night vision, maybe? - go with two of these for $6ea, but you'll need to do some soldering, change power source to a single LiIon cell, and connect a suitable resistor:
h ttp://www.dealextreme.com/details.dx/sku.14061
You'll also need a cheap 12V source. My choice: take apart a 'dead' LiIon laptop battery - one or two cells may be dead, but the rest will be good to go. You need 3 batteries in series to make a 12V source. Or, you you don't have any dead packs laying around, get two of these:
h ttp://www.dealextreme.com/details.dx/sku.5790
Charge them with this:
h ttp://www.dealextreme.com/details.dx/sku.1251
HTH.