The LEd (LaTeX Editor) was last released in 2009 and supported MikTeX 2.8 back then. To use it with MikTeX 2.9, open Configuration → Options and change these settings:
Set TeX executables option to
C:\Program Files\MiKTeX 2.9\miktex\bin (32-bit Windows) or
C:\Program Files (x86)\MiKTeX 2.9\miktex\bin (64-bit Windows).
Leave the TeX distribution option at MikTeX 2.8
Tried with: LEd 0.53