Yes, you mentioned before that such a device would be a deal breaker for you...it would be the decider on you getting it. Personally I don't think that you really want the HE figure at all (as others have already suggested), it's the impression you give off, based on such an unlikely desire as a light-up, functioning and collapsible bow with motorised quiver. Here's why...
I set myself, purely as an act of intellectual self interest, a small time-and-motion study to do what you suggested and considered how to make
just a collapsing and lighting up bow.
In theory, it would be quite easy to make a bow that can 'fold out' from a collapsed to functional position. A couple of hinges here and there and so you have it.
But it would look hideous because it would be difficult to disguise such a thing as a hinge and still
have the required functionality at the 1/6 scale. The difficulty of this idea multiplies every time you add another hinge to the equation. Added to this, the body of the bow is a different shape, once the bow has been strung (excuse my poor art work)...
So
all that is just regarding the main arc of the bow. What about the bow string? For it to look good once opened, it will have to be at least semi-rigid...but how will that work out if you want to collapse the bow, it would look terrible. It would also be thicker and so be way out of scale. The alternative to this is a non-rigid string, a soft string. This would look fantastic and be in-scale when the bow is opened, but then look hideous and uncontrollable when in the closed position. It would look like an untidy and thready mess.
The lights, on the other hand, is where things get really ghastly and improbable. I am old enough to remember using 'pea-bulbs' when I wanted to light a model or toy. These days, LEDs make things much more neat and self contained - look at the repulsors in the various Iron-Man figures arms, chest and head - but these still need some space to function, particularly to house the power source and other vital bits and pieces. Where would these go regarding the bow? What space is there to work with, within the thin and in-scale boy of the bow?
You could have the power inside HE's body, with a connector at his hand. But if the wire runs up the inside of HE's hand/wrist/arm/shoulder then you get a figure 25% less articulation. Also, this does not even begin to address the fragility of the hand/bow electrical connection.
So the only other way is to run the power up his arm and hide it via his sleeve...except HE is a bare-armed figure and does not have sleeves. So that ruins that idea.
Why don't you just say that you don't really want the figure, instead of using this as a lame excuse to not buy it.