It looks like an Elly with Cree, but they made a few changes to it, including adding a glass lens, and beefier o-rings. They also mention adjustable focus, so that may mean they put multiple o-rings on the head so that it will stay sealed if you rotate it. It sounds like those things alone will make this more attractive than the old modded Elly. These would make great gifts though out of the box, about $10 total for a Cree light that runs on standard batteries is absolutely awesome. The old version used to cost $14 once you consider the price of the emitter and the flashlight, and this version is clearly superior with those changes.
Also, the lumen numbers on this websites they listed at 53 or so, compared to 20 for the original -- that sounds like the same relative (2.5 to 1) improvement I got from upgrading the emitter. Also, if they are only rating that light at 53 lumens, based on how intense mine is, that means their lumen numbers are very conservative, similar to how Surefire advertises lowball numbers.
One thing that I found is that running higher end alkalines provided even more like, and 1.5V Lithium primaries will supplied the most safely. Since the circuit is a simple voltage stepup, testing with 2 NiMH Cells would have cooked the entire light to run it for more than a split second -- it was pulling 2A at double the voltage, instead of 1A like stock, so 4 times the power.