Hey Peter,
I wouldn't buy it the way it works now (auto-cycling thru all the colours), because it's just a nice - but useless - toy.
But I WOULD buy it, if you could change the logic of the microchip inside to this pattern:
Turn ON: <font color="red"> Red </font> -> Turn OFF -> Turn ON: <font color="green"> Green </font> -> Turn OFF -> Turn ON: <font color="blue"> Blue </font> -> Turn OFF -> Turn ON: White
THAT would be a really nice light! Fun and really useful, too.
BTW, how bright are the single colours compared to a standard Nichia 5mm LED?
-Connor
PS: The more I think about this, the more I like the idea. Wouldn't this be a really nice flashlight? 3 colours AND 'white' and all in one ARC AAA body?!