Hi! I'll try to answer your questions.
The page you linked is from the forum of that site. They moved this particular layout to the main page. The forum has a few things the main page doesn't, but in general the main page is more reliable.
Collection of vero (stripboard) & tagboard layouts for 100s of popular guitar effects, with over 1000 verified designs. DIY your own boutique effects!
tagboardeffects.blogspot.com
Most (including me) prefer building on PCBs since it's much more convenient. I use tagboard at times when I don't see a PCB available, or if I want to rearrange parts for a mod, or if I don't want to wait for shipping a pcb.
I'd recommend reading through this build guide before building a vero project. Also, the pale green is pretty involved, I wouldn't necessarily recommend it as a first vero project.
Collection of vero (stripboard) & tagboard layouts for 100s of popular guitar effects, with over 1000 verified designs. DIY your own boutique effects!
tagboardeffects.blogspot.com
For the LED/LDR, that layout recommends a vactrol (NSL32), which is an LED & LDR manufactured in a convenient sealed package. I just went with a green LED and LDR, and bent them 90deg to be facing each other. I rearranged a few things to they'd be right next to each other.
Using heat shrink is nice because it blocks out any light that would affect the LDR (especially good for out of the box testing). It can also provide support to physically hold the parts together. For this build, I didn't use heat shrink. Once in the enclosure, it's a dark environment anyway, and since they're so close they didn't need any help staying together physically. For LED/LDR projects from PedalPCB, he always puts the LED & LDR right next to each other so you don't really need to use heat shrink, just bend the LDRs to face the LED.
Happy to answer any other questions.