Yes, and no...She actually doesn't have those powers anymore! After M-Day, almost all the mutants in the world lost their powers, including Jubilee! Now she's actually a vampire, with a new miniseries featuring her and Wolvie!
Haha, very true...I see that you're up-to-date on your comics! I don't think many people know she can't make those flashy fireworks anymore. Heck, if not for Wolvie's blood, she wouldn't be able to bare much light anyways!