I would not expect that bulb to be worth a hoot as a modeling light. This is because it probably cannot be dimmed the way a standard bulb can.
You can simply turn off the modeling light circuit when working with the Vagabond as your power supply.
Modeling lights in AB flash units aren't bright enough to use effectively except in a dimmed-light studio environment anyway.
For strictly use as a focus assist, I'd probably use a separate lamp that's a bare bulb with an efficient reflector (such as a clip-on shop light) to make it as bright as practical. For that, the LED bulb would probably give you enough light while not putting much load on the Vagabond.