So, light leaks, back in the film days, cameras weren't always perfectly sealed, and sometimes a little rogue light would sneak in and hit the film directly. The result was these gorgeous accidental washes of colour bleeding across the frame, warm oranges, soft halos, streaks of gold. Photographers used to curse about it, now everyone's obsessed. Light damage is just that same thing turned way up, like the film got left in a hot car. Colours shift, things start to burn out, and it all takes on this wonderfully chaotic, found-in-a-shoebox feel.
That's basically what this slider does. Low positive values give you that subtle, dreamy analogue glow, soft colour bleeds, warm edges, that classic 1970s beach roll vibe. Push it to 2.5 and above and it starts getting properly interesting, the damage builds, colours shift, the image looks like it's been through something. Honest sweet spot is somewhere between 2.5 and 6 for that light-damaged-but-still-gorgeous look. Go past 10 and you're in full beautiful chaos territory, which is honestly a mood. Negative values do basically nothing, so don't bother going there.
This is a rough first draft, it will obviously change the lighting... but also composition and faces somewhat. You can fix that with edit mode.