Two points you can take or leave.

I have never hunted anything with a bow.

I am however very familiar with CO DOW hunting regs.

The specific reg reads like this -

"e. Equipment using scopes, electronic or battery-powered devices cannot be incorporated into or attached to the bow or arrow. "

this is the only reference to your specific question I can find.

Since I don't know whether illuminated knocks are electronic or not it would be up to you to interpert.