The way Holy Spirit does it is slower for mainly 2 reasons:
1. It uses walls instead of hulls, which results in a lot of needless geometry
2. It doesn't use a spatial partitioning system
3. It doesn't cache lights, as far as I can tell
The hard edge shadow algorithm is based off of what is described in this article:
http://www.gamedev.net/page/resources/_/technical/graphics-programming-and-theory/dynamic-2d-soft-shadows-r2032The soft portion of the shadows was actually by far the hardest part! It is also the most processing intensive part. Let There Be Light calculates a penumbra that starts as a point and softens further away from the light, instead of just blurring the edges of the light.
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On a different note, I am adding adjustable light attenuation and bloom to the next version of LTBL. It should be done soon, there are just a couple of bugs that need to be fixed. Here is a preview: