Hi Billson,
And if that still doesn't make sense, consider this:
Voltage step-up circuits basically suck extra current from the source (battery) and convert that current into extra output voltage.
So if you have an LED that needs 3.5v and you want to run it at 700ma, but your battery only supplies 3v, then you can "steal" extra current from the battery and convert it into extra output voltage to hit your 3.5v goal.
So, in the thread you mention, that extra (1.4A - 670ma) = 730ma of current coming out of the battery is being turned into extra voltage to power the Luxeon.
pb