A processor couldn't COMPLETELY use light, because you need to use electricity to make light... so I imagine things like the speed of the transistors that operate the lights and the speed that the light itself can turn on and off at would effect the speed of the processor.
In my opinion, it would make more sense that before seeing a processor that uses light, we'd probably see a motherboard that uses light to let the Northbridge communicate with the CPU and the Southbridge. And before that, you'd probably see fiber optic cable used for broadband internet connections... can you imagine, your cable line leaves your house, goes to the node, and is transferred over to fiber optic cable... say goodbye to pings above 10 ms =)