Hi,
don't know about the BB500, but I have recently gotten an LGI2 and have done some testing with that. I have a lot of about 18 month old AA NiMH batts. With these the maximum amperage is only about 300ma more than with alkalines. I say ONLY, but thats still almost enough current for a whole another luxeon! And the LGI is very overdriven to begin with so this is definitely pushing it. I have read other postings around here from people using newer NiMH batts and the initial current is even higher. The recommendation is to let the batteries "mellow" for a day out of the charger, or at the very least don't let the light get too hot, so short bursts for the first few minutes until they settle down a bit.
I also tested with Lithiums just today in another thread. The initial current was another 300-400ma more than the NiMH! But, the luxeon didn't self distruct and the current came down to normal within the first minute or so I THINK that the danger is minimal. But again, let the heat of the lamp be your guide.
Neither NiMH nor lithiums will cause it to go poof. What they will do to the overall lifespan I don't know.
I have not tested with NiCads as I don't own any anymore.
-James