It just depends on the light and how it's designed - for example, the fact that it uses a spring-loaded AAA battery carrier increases the odds that you will be able to mod the light to fit an 18650 (some AAA carrier lights have less 'play' for the carrier than others). I'd say that there's probably about a 50/50 chance that you'll be able to get an 18650 in there after removing excess parts in the tailcap. This looks very similar dimensionally to the 'Ristoft' light that is a popular light to mod with a Cree and 18650, I've done a couple of them myself and it's not too tough if you remove everything except the tailcap switch. I've also modded another light that was somewhat like this to use an 18650, but that light required me to lathe the inside of the aluminum tailcap to fit the 18650, works great now though.
From looking at that light, it looks like a very good candidate to mod with a Cree, as the pill looks very good in size and would probably do a better job of dissapating heat than some pills would.
If you DO buy this light, let us know how it turns out and if you are able to get an 18650 in it. An unprotected 18650 will make things a little easier since it's probably about 1.5-2mm shorter.