Hi Pier,
The output voltage of the LM317 current regulator is 1.25V higher than whatever is the total voltage for the two LEDs.
Your 390 ohms resistor reduces the LED current to only 1.25V/390= 3.2mA which is way too low. 3.9 ohms would regulate the current at 320mA to 330mA.
The 100uF...