on the subject of dynamo lights and the design of their power conditioning circuitry.... I'm waiting for someone (or many people) to reverse engineer some of them and see how they work.
In the days of incandescent bulbs, we all knew that the bulb was roughly 12 ohms and was happy with AC or DC.
With LEDs, there needs to be some sort of converter circuit in order to deliver 3 watts to a single LED when the LED has a forward voltage of 3V. It's probably a buck converter, but who knows what variables might exist.
Assuming that it is a buck converter, then it will be designed to operate over some range of voltages. Connected to a typical dynamo, it shouldn't see voltages much above 7 or 8 volts, so I wouldn't expect them to be designed to withstand more than 10 or 15 volts.
My advice would be to be careful if using lights in a way that the manufacturer didn't plan on. And if you do kill the light, consider sending me the light's remains.... I'm still looking for a good dead light to throw my own circuits into.
p.s. nice to see Sam on the list again! heck.. it's nice just to see some activity on the list again!