Chspeed, I can definitely answer your questions pretty accurately. I own Glowgear golf that makes the GlowV1. The best rated tour quality night golf ball on the market. It's a two piece ball with a proprietary glow pigment in the skin. It charges up with a UV flashlight/torch. Per the ball, it hits as far as a Callaway HX and a bit short of a ProV1. It out distances traditional LED balls by up to 3 clubs.
Per being USGA compliant, we've had several conversations with them and it turns out that even though our ball complies with all distance and compression guidelines, they will not approve us because of an augmented skin that they say gives a player an unfair advantage. So to answer your question, yes, our night golf ball doesn't hit like a rock and performs like your favorite daytime ball, but simply can't get the USGA stamp of approval because of it's glow skin and how that makes more visible at twilight.
Hope that answers your question. Feel free to check us out at Glowgear.net