are the 18650 electrically in series but physcially parrelel? thats long but it doesnt look 650*12 long to me.
Yes, they are electrically in series which is useful for some of the high powered filaments. Several folks on this list have 12S voltages to deal with (about 52 volts). The four-alongside packaging may only be 3S in physical length but it is still 52V.
There are three parts that need to see this voltage. The FET, the voltage regulator and the input capacitor. The 50V capacitor is probably ok, but the 40V rating on the FET and voltage regulator are too overstressed.
I found some 60V FETs, and the voltage regulator is made in a 60V model, but finding it is not easy. Newark shows some stock in the UK but it is costly to ship from there unless you live there.
The regulator and FET are the same on both the through-hole version and the hybrid SMD version of the PCB. The capacitor did change to a SMD. It is a ceramic capacitor and the rating is so close that I don't expect it will have problems, but it could be changed to a higher voltage unit as well.