(I promise not to flame you here, this is out of my league!)
Okay. (I didn't see where you conceded that 180 degrees out of phase is correct.)
But If I'm wrong, flame away. It's more likely that I'll remember.
If the body is acting as a capacitor, would the light eventually stop glowing when we've reached our charged capacity?
No. Since it is AC, I would venture that we are also discharging at a roughly equal rate.
And charge dissipates slowly no matter how insulated we may try to be. If you get too charged, the ions will leave on your breath.
I think the following is a "complete" circuit:
{60 Hz AC ungrounded conductor} +++ {LED} +++ {moderate value capacitor} +++ {no connection, i.e., air}
A human body serves as a moderate capacitor.
Then should we be careful about discharging ourselves?
No. In no case that I can imagine would a dangerously large charge collect from household voltages.
Is dissapation is the main factor preventing this from being the case?
I think the alternating current is the main reason.
I'm asking here, and I don't fully understand capacitance, so be easy on me!
I don't understand it either. That's why I'm not fully answering. Like I said, I was somewhat amused by the apparently open circuit piezoelectric spark.
Electric cattle fences will also light up neon bulbs "open circuit".