It's not going to work on two NiMH C cells. The nominal output on a NiMH cell is 1.2 volts. Even fresh off the charger, you're looking at maybe 1.44 volts max. So between 2.4 and 2.88 volts for the two batteries - considerably lower than the 3.6/3.7 volt nominal voltage of a Li-ion cell (4.2 volts fresh off the charger), let alone the 7.2-8.4 volts for two of them.
NiMH C cells and Li-ion 26500 cells may have the same dimensions, but the different chemistries that each use lead to very different performance.
At the least, you need two LiCo Li-ion batteries. That'll give you the voltage that you need. However, the protection circuit (and I would strongly recommend protected cells when using LiCo) could limit the current draw required to get maximum brightness from this configuration. In that respect, you would no doubt do better with IMR (LiMn) 26500 Li-ion batteries instead. Funnily enough, having contacted Lumensfactory, I myself ordered the SST-90 head and a FM 2x26500 Megalennium this morning, and the latter is exactly the configuration I intend to use - IMRs.