Mike and I started a conversation with Ricksan on a related subject (we wanted his insight on occilating lights). His response is quite lengthy so I can't copy it all in here (at least not until I am at my desktop), but I think this section is relvant with your findings. Mind, that I just got this yesterday and I didn't realize you were looking at this or I would have shared it sooner.
Ricksan via email wrote:... In the Children block of the blueprint I added a spotlight and named it Fwd_Headlight_2. As with the light-glow quads, there's also a Fwd_Headlight_1 child for the stationary headlight. (As you may know, the naming of these children must be just so in order for the game engine to recognize them for what they are. Contact me if you need more information about this.) The important thing to note about Fwd_Headlight_2 is the entry titled Parent node name. It's here that I specify the animated light-glow quad's name, lights02_fwdhead.
If you've worked with child objects in the Asset Editor before, you know that usually they're initially are located at 0,0,0 and you have to drag them to their final position. When you save and quit, the lateral and rotational offset coordinates of the final position are added in matrix format to the blueprint XML file. You can tweak those coordinates in a text editor if need be and then re-export. In the case of a child that's parented to a node, the initial position in the Asset Editor is at the parent node's location. You still will probably have to rotate or translate the spot light to get it where it should be.
There are two RW bugs to deal with. First, no matter how smoothly and perfectly you have modeled the animation, it won't necessarily export that way. You may see jumps in the final animation. It appears the exporter has a problem with small angular rotations, but if I exaggerate the rotation a bit -- i.e. use wider angles -- the resulting export will be smoother. The other thing I've noticed is that after you've so carefully positioned the spot light in the Asset Editor, the next time you run the AE the spot light will be somewhere else -- nearby but not exactly where you originally put it. All you can do is try and get it as close as possible to where you want it. Ultimately, I "buried" the oscillating projected light within the main, stationary projected light so these discrepancies are less noticeable. ...