I just looked at my NH with two different ultraviolet flashlights. AFAIK I do not have any hydraulic leaks. However, we should see some fluid on the rods, at least in a ring at the extent of travel for the seals, and also on the dipstick for the hydraulic fluid. I have used only the fluid sold at the NH dealer and I bought this tractor new, so it's a known system.
Huzzah! The hydraulic fluid glows ghostly greenish white under the 395 nm flashlight. It glows a bit brighter under the 365 nm flashlight, even though this flashlight has less output (it's more difficult to make the shorter wavelength with LEDs).
An ultraviolet light source can make some substances fluoresce: they emit visible light of wavelength longer than the ultraviolet. Thus we can use our eyes to look for the substances. It might be that an infrared source does something interesting, but you'd have to have a special camera to see infrared, and it's difficult for a light source to make a substance emit shorter wavelengths (such as infrared to visible). Oh, sure, anti-Stokes emissions in Raman scattering will do that, but it takes a lot of work to get that to happen, and it's VERY faint.
With these ultraviolet flashlights, just a few other things glowed, such as the orange knob on the gearshift, and the grease on the FEL pivots. Nothing on the cylinders or hoses or control valve glowed. If there were a leak on one of these, I think the flashlights would have helped identify it.
Conclusion: ultraviolet flashlights should be able to show some hydraulic fluid leaks.