What are the system advantages LED-Temperature-Protection L-T-P in comparison with NTC sensor:
There are more computer operations with L-P-T involved to obtain the system benefits. In these modern times of embedded micro controllers this is not a problem anymore. Even with small microcontrollers of the 8 bit class the method can be used, depending of how many system features the software shall perform.
The L-T-P method can reduce by software costs and component space while increasing the reliability.
The reliability is much better, because there is no external influence possible to cheat the system by it's direct analyse. The NTC sensor itself can be easily displaced or changed in value to cheat the system. The NTC sensor can be changed in value by dirt or water and there is no way to decide if the change of value is by temperature or other reasons.
Use your available resources of software power to save money and parts - even more parts can be saved by embedded processors they may even replace analogue ICs. The more know how you have inside your software the less easy is to copy your product.