Hi Ken,
Yes, I have had my bike out several times since installing the GiPro behind the speaker screen. The Red LED is visible through the screen; in bright sunlight. You can't miss it. You will see.
(If) you mount it behind the screen and later change your mind; there's enough cable (slack) where you can just pop off the instrument bevel cover and re-position the GiPro elsewhere; such as how HornBlower has done his; by adhering it to the inside of the upper right area of the left fork well (post #37 of this thread).
I also used 3m double sided tape; because the tape supplied with the GiPro didn't seem strong and/or thick enough.