Sadly that's not the case, or at least not in Germany. A judge actually refused to block the sale of the glasses because it was considered that the LED were sufficient warning. Sure, you can still use them covertly and releasing material often requires a waiver, but that's true of smartphones too.

There's a case right now (brought forward by the HateAid organization) arguing that these types of glasses should be forbidden, but I'm not optimistic that they'll succeed.

plain and simple, we are talking about obscured/hidden cameras, period.

it doesnt matter if its behind a pinhole, mounted on a badge, or crammed in a pair of glasses, its all the same.