Running on 2xAA is completely safe... but it's in jeopardy in case someone replace 2xAA with 3xCR123... As for heat management, nothing to worry about, doesn't make that much heat, especially M31LL version...
Yes I will be running on 2 AA's (I think 3 CR123's would fry the Malkoff drop in anyway). I figured the M31 LL would be fine but I just wasn't sure about the M31 L at 125 lumens. I'm looking for a Malkoff with a long runtime that I can use AA's with and I have a bunch of
Surefire G3's lying around.
I would venture to say you won't have a problem. I did a runtime test the other day on my M61LL which obviously runs at a higher voltage. I had it running off of 1 RCR in an E1e body with a VME head. It ran for 5 straight hours off an AW rcr 123 and was not even remotely warm. The body was literally as cool as it would have been if the light was not on. It was in my apartment with the temp at about 70F. I think you'll be safe.