Single point grounds and single point Voltage source is a good thing, if you can do it.
I always run "home runs" to the battery and fuse them there.
Single point or home runs help to prevent possible over loading of a circuit and current loops if you not sure whats really up with that circuit that you've tapped off of. There are just some things the battery cant do, hence why you can buy filters to get ride of if certain noises that are carried via the 12v eletrical system that the battery just cant filter out.
Using the indicator to absorb the voltage is a bit iffy as you suggested, but could work if the impedance is low enough and the inductive characteristic doesnt inhibit the current flow, acting like a limiting resistor, raising the absolute clamp voltage.
Most IC's are designed to accept no more than . 6 - 1V of negative input. A diode will generally be . 6V or less, depending on the current. LED (has indicator lights) do not like reverse voltages and arent tolerant to them. Plus their bias resistor guarantees a higher clamp voltage, not soo good.
So being a purist (and a believer and follower of Murphy... Rule # 1654 = If I dont put the protective device in, the event will happen and kill what the protective deviece was there to protect. After you then fix the destroyed item and add the protective device, the said event will never happen again)
and since it's real cheap I add the diode.
Bob