Jandy Watercolors LED Pool light dims out, then brightens

My (120V) pool light dims & brightens the whole time it is on because it does not have the proper voltage going to the outside light junction box. I disconnected the wires at the outside junction box, the "hot" red wire only reads 30.6v, should be 120v. I opened the Power Center, traced the red wire from the outside light junction box to what looks like a relay box (above the circuit breakers) with 8 pins and checked the voltage there-30.6. So the voltage leaving the Power Center going to the light junction is box-30.6v. I changed the Ground Fault circuit breaker thinking that was it. No Change. Could this relay box be the problem?
 
Sorry for the misleading info. Okay. I did a voltage check. Last time I neglected to turn on the pool light from my PDA. I know--dumb! Here is what I found. 120v going to the outside light junction box. I pulled the light (120v CPHVLEDS100-Checked the model #), disassembled it, pulled the connectors off & checked the voltage-- 120v. I reassembled & reinstalled in the pool. I powered it up and it came on very bright. Within about 7 minutes, the bulbs dimmed then brightened up a little bit but not like when I first turned it on. As it was dimmed out, I checked the voltage at the outside light junction box. It was a steady 120v. Sounds as though the light engine is bad. Any thoughts?
 
It will start out bright (not as bright as if it has been off for a while) then starts to dim & brighten within 2 or 3 minutes. Is there a less expensive LED light replacement that will work with my remote? It would be nice to have a few colors, but not necessary to have as much as the light I have. Thank you for your response.
 
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