Ok... so it looks like 100w LED chips are not gonna work.
Thanks for the idea of LED strips. I actually have already tried these on this year's float, for small parts of it... It was a LOT of work to get them working though and would not be feasible to cover the entire float with them. I used them to cover some dolphins made of ply, and they were spinning around, and I only had 2 slip rings available to get the power to them, so I ended up wiring them in groups of 4 strips in series so I could power them with 48v to reduce the current required. I then butchered 4 old ATX PSU's that I managed to blag from a school that were getting rid of some old computers... and connected them in series to give me a decent 48v supply.
This was the result:


Anyway, it's going to be far too difficult to do this for the entire float... it was hard enough doing this for 10 dolphins!
So given that a lot of people have said that 1000's of 100w will be far too bright, I've put together a spreadsheet to try to work out what types of different lighting would give an equivalent brightness. We normally use 40w incandescants, which based on the average of a few references on the internet are I think about 450 lumens. So 12,000 of these would make my entire carnival float around 5.4 million lumens.
Looking at a few different types of lighting as comparison, I've worked out that to give the same amount of brightness, I'd need 540 x 100w LEDs to give the same brightness as 12,000 x 40w. But given the supply and cooling issues I've also looked at several types of LED GLS B22 lamps... here is what I came up with:

Anybody have any other ideas that might work...?