"LED" (or pin 25) is not known in v1,23

Pimeroni Pico lipo with 16MB, not the W version

led = Pin(“LED”, Pin.OUT)
while True:
led.toggle()
sleep(0.5)

This works in MicroPython v1.21, not in v1.23

Try led = Pin(25, Pin.OUT) and see if that fixes it.

Of course this works, but the point is that all my existing MicroPython programs have to be changed as a result of this “update".

That happens, things change as a result of changes in the “new” version of Python. I do believe it also has to do with the LED using different pins / GP internally depending on whether its a Pico, Pico W or Pico 2 etc?