Yes, a bit. The MN01 is meant to run on a CR123, which peaks at 3.3 volts. The MN01 also wouldnt be very bright compared to an MN03, if it didnt pop right away.
Runtime will be approximatively 5 seconds. Then, you will need a new MN01.
THe lower internal resistance of the 168s, and its higher base voltage will kill the MN01. There is no way to connect the MN01 to a Li-Ion cell effectively, unless you use a drop resistor.