The BD140 is rated at 1.5A max collector current and 8W maximum dissipation.
I doubt your LEDs take that much, especially with 470 Ohm resistors in series with them so you should be OK in respect of it's maximum Ic rating. However, it will warm up and could overheat although I would say the risk is low. The power it will dissipate is the voltage across the emitter and collector multiplied by the current through it but without more information on the LEDs it's difficult to make a calculation.
The circuit isn't very well designed, apart from the LED voltage issues, when the first transistor turns off, it leaves the base of the second transistor floating. In practice, this could result in the LEDs still glowing slightly when they should be completely off.
Brian.