It has nothing to do with whether it's Cree of Seoul (or Luxeon, or Osram, or...). The LED's Vf is incompatible with the converter/power supply configuration. A boost converter requires that the output voltage is higher than the input voltage so a very high Vf coupled with single Li-ion (or 123) might work as suggested above. However, if you screw up and forget or if someone accidentally puts two CR123's in there, POOF! I can't vouch for whether this would, in practice, work. But until someone proves otherwise, it's just a theory.