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MR Bulk said:
but long term effects of bypassing such a circuit are not yet known.
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Yes they are... I and others have mentioned it a number of times when the topic comes up, I believe someone asked something similar in one of your threads a while back and you acknowledged the information I posted and went on. /ubbthreads/images/graemlins/crazy.gif Don't your lights that use Pilas do the same thing? It's effects have been seen visibly with Arc AA and AAA lights too, they don't take very long to occur.
If you overdrive an LED, which is what happens if the battery voltage is above the LED forward voltage on a boost convertor, the LED will shift in color towards the bluer areas and its life is greatly decreased. You will notice, depending on how high of an overdrive, a decrease in brightness within a number of hours of use. You go from a lifespan of tens of thousands of hours, to mere hours, or hundreds of hours. Depending on the amount of the overdrive, the progressive degradation of the output of the LED essentially relegates the diode to not much more than a fancy incandescent bulb that you can count on replacing.
Underdrives shift the color towards green if highly under driven (say < 350mA for a Luxeon III), and greatly extend the lifespan of the LED.
The effects of overdriving an LED were evident with Arc's 3x overdrive of a little Nichia LED at 60mA instead of 20, and those lights were an angry blue color. Whenever people bought new ones they wondered what Peter had changed, because they were noticably brighter than their older ones they'd be using for a few months - nothing had changed, the LED had just been dimming from too high current levels.
More on topic to the question at hand - since it's a boost convertor, it did, likely, go into direct drive as MR Bulk mentioned since the battery voltage is higher than that of the LED. However, you have to be careful when doing that, the current still passes through the convertor even if it's not regulating anything, and some of them cannot stand up to higher voltages (best to ask the designer what that maximum input voltage is).