In my opinion, the Tec 40 is not that suitable for an LS mod, although it might be for multiple 5mm LEDs.
I have moded those Blast/Rage modules with an LS, and have used them in the Blast. The light is pretty good, but underdriven. So I next thought to put one in a Rage, and did some tests with the module hooked up to 4AAA NiMHs. The problem is you have to resistor it down a lot, and the resistor gets very hot and wastes power. If you resistor it down less, the LS gets too hot, because the plastic housing won't dissipate the heat well.
So my point here is that you have the same kind of problem with the Tec 40. I'm not saying it won't work, just that it's not the best way to go. Plus you would need to cut some sort of weird slits into the reflector.
So after doing all this, you would have a Tec 40 with an LS, but not as bright as an LS can be, along with wasted battery power, and with a head 3 times larger than it needs to be.
Edit: I looked at this again with a Tec40 and LS in hand. The situation is even worse than what I mentioned. The LS is too long to fit in the reflector. You would have to make the heat sink real small. You might be better off by putting an emitter in a PR base and cramming in a lens. I would go with multiple LEDs on this one.