The two LEDs are there so that one will light up regardless of how the heated bed is connected: [
reprap.org]. Read the full page - lots of info on your heated bed.
The thermistor is not connected to the heated bed. The glass bead of the thermistor is poked through the hole in the heated bed so that it contacts your glass printing surface (if you have one). The thermistor is wired directly to your electronics board.
[
3DKarma.com] - suppliers of quality, affordable 3D printer kits and filament for the UK market.