Not as far as I can tell... I'm not 100% sure it's even electricity, maybe photo florescences? A hermit got too close and it got one of it's legs caught for a while before freeing it self, didn't get harmed...
I wonder if the "light" is a hunting mechanism to attract prey in the wild?
This isn't my video, but found it on youtube and this is what it looks like...
YouTube - Electric Flame Scallop