I agree that there may be some difference with small lights or in very high ambient temperatures, but there is no difference with L2D Q5 in turbo mode.
The question is, how long did the test last?
Taking measurements for the first 5 minutes will tell you nothing about the temperatue after 15-20 minutes. Holding the light in your hand will help getting heat away, but ONLY if the light is warmer than you.
It's like those liquid-cooled Computers. The effect will be even better, when the difference in temperature of the flashlight and you will be higher.
Just Thermodynamics ( 3. main clause of thermodynamics to be precise)
Just for thinking: What will freeze first when put into the freezer?
1. A cup full of hand-warm water,
or
2. A cup full of boiling water?
MfG Mr.Urahara