A rapid and efficient approach with a broad scope for the late‐stage electrochemical diselenation of BODIPYs is reported. The selenium‐containing BODIPYs can stain lipid droplets selectively, exhibiting fluorescence in both green and red channels. The Se‐functionalized BODIPYs exhibit larger Stokes shifts than their precursors, and sensitization of 1O2 from triplet states formed by competitive intersystem crossing, which makes them suitable for bioimaging studies and, potentially, and simultaneously, for photodynamic therapy. The electrochemical synthetic method offers an efficient and versatile alternative for the preparation of Se‐functionalized fluorescent compounds with relevant physicochemical and biological profiles. More information can be found in the Research Article by H. Braunschweig, E. N. da Silva Júnior, and co‐workers (DOI: 10.1002/chem.202303883).