There's nothing wrong with an emitter follower if you need to source more current from a MCU pin, don't want to invert the signal, and can tolerate the 0.7V Vbe drop. However, as Wraper points out, your circuit needs decrapifying. When the boards come, do not populate D1, C1, R2, R5, and fit zero ohm jumpers for R1, R4.
56 ohms should work well for R3 giving a LED current of about 23mA., which is pretty close to the recommended 20mA. I wouldn't go much higher for R3 as the efficiency will drop as the LED ages.
Zero999's calculation neglects the internal voltage drop in the ESP8266 output, which when sourcing close to 12mA is going to be significant. IMHO its too close to the bleeding edge - if you choose a resistor to satisfy the constraints If>=10mA and Iout <12mA, you should be able to get it to work OK on the bench in a shirtsleeve environment, but you wont have any margin for LED ageing and low temperatures, and at high temperatures you are likely to draw excessive current from the EP8266 I/O pin, so reliability will be poor.