Not sure what you mean by "light". We have a pruning branch which drops most blockchain data but still functions as a full node, and a design for an SPV-like wallet.
Mobile wallets are planned but not under immediate development. Third parties may take that on once the libraries for SPV-like wallet functions are released, or if the project grows we might do it ourselves. Hard to say at this point.
Will there ever be an ELI5 version of how a cryptographic ring based blockchain can implement pruning? The whole concept fucks me up. If any input can at any time become an output at any point in the future when needed, how can you safely prune *any* of it? Of course I am still learning about how it all works under the hood, so perhaps it's my understanding that is to blame.