Errr depends on whose 50W halogens they are talking about. Osram HLX 50W halogens have 1600 lumens. I don't think any 15W LED can do that.
The issues with using the strobe lights for illumination is you won't get too many shots off. For example, the Hartenberger 250TTL HS has a 20W halogen which lasts 80 min with 36 full power shots. Most of the strobe lights are spot and not diffused. 2 x 20W halogen would be minimally doable on a night dive since the 5D2 is 30p and has a max shutter speed of 1/125 for video. But the beam has to be wide enough to avoid hot spotting or difficulty in subject tracking etc.
On the strobe side, you want at least 150W for versatility. And a broad even beam with good tail off and a nice color temp. The hartenberger weights 2.5kg each. You'll need 2 which brings the weight back up to 5 kg.
Here is a sample dual setup:
2 inon Z240 with 4 2700 MAH batteries : 1.44kg
2 Subtronic Video with 7.2 battery back: 1.9kg (about 2000 lumens per light head)
These are the 2 lights setups that just came to mind. Do your research on the systems and you'll find have 2 systems is often lighter but more bulky obviously.
Moved this to Video although it can be in Lighting too (gawd this is confusing... even for a mod!)