Unfortunately, no. This type of light cannot be expected to last forever. Fortunately, this will not affect the vaporization function of the Launch Box itself, which is warrantied.
The light (which is not manufactured by Magic-Flight) is similar in design to a regular household light bulb. As is true for all of these bulbs, they will eventually burn out. (The longer lasting LED type of light cannot be used for technical reasons: the electron band-gap for silicon junctions is simply not low enough for there to be enough free potential for visible photon emission, regardless of the doping).
The lifetime of the light in the Launch Box is also shortened somewhat by the fact that they are run in a hotter than average environment with many sharp temperature changes (which is hard on any pressurized glass envelope with a metal to glass seal). This is why the light cannot be part of the lifetime warranty.