White LEDs may be the most sensitive to the increased voltage because of how the phosphor might respond. Like greenLED said, the main risk is reducing the life of the LEDs. I have cycled Li-ions through my green A2 close to 150 times now with no problems (other than having to replace the lamp after 60 hours, which was double its advertised life). You could look at it this way, the Li-ions power the incandescent for approximately 30 minutes before they need to be pulled and recharged. So I have saved over $150 in the cost of primary batteries, enough for a new A2. However, my A2 is still going. I'll report here if ever I have any failures from the LEDs, but I don't expect any. TMK, SF uses Nichias which seem to be a bit sturdier than other brands and may be the best choice for driving them above specs.