Presumably there's no booster in there, so it's only running at 1.5V. Bung in a lithium rechargable 14500 and it might work a lot better. Or, indeed, it might melt.
LEDs won't light at all below around 2.7 volts I believe. THere is a boost circuit. The problem with the Elly is that Kai essentially modded the light himself in-house, so the contact on the ground wire is pretty flaky. I replaced the solder blobs on mine with an actual WIRE wrapped around the screw that retains the star to the base.
I also added some arctic silver adhesive to the star, replaced the reflectors with his $1 Cree optic (massive improvement to the beam -- less annoying spill, floodier central hotspot). Finally, I isntalled a Kroll tailcap switch to one -- looks extremely tacky, but gives me the option of having momentary on.
On my other Elly, I installed a red Lux-III. Since the converter is a simple voltage, boost, it drives the lower-voltage red emitter harder than a white Cree LED, creating an absolutely massive flood of red light.