Pre-Empting the arrival of my 1200 lumens chinese light, I want to think about weather proofing the batteries.
I understand the soldering isn't great so I'll re-solder the points and then look at surrounding them in something. Do the batteries get hot when charging? I'm thinking a silicone sealant casing might make the batteries explode when charging due to the heat not being able to escape.
Any ideas?
Also, I know someone put up a few links saying the mount wasn't great, was this with the torches and not the magicshine clone?
Li-ion cells don't like heat, it's best to keep them cool. Below 40 degrees is best which is why they tend to die in hotter environments such as a toasty laptop.
As for the need for ventilation, I've had 2 x 18650's in my steerer tube for a few months now and they havent gone bang yet.

I try not to leave the bike out in the sun where the steerer tube would get warm, as if it did go bang it would probably blow my top cap off!
They are pretty well sealed in, I glued a coin the the bottom of the steerer tube and my top cap is surrounded by silicone sealant, so it's pretty watertight and airtight.
They don't get hot while charging unless you charge them quickly.
I'm talking about charging them at 5 amps or more, but lower quality cells will get hotter due to higher internal resistance than higher quality branded cells.
I charge mine at 1A and have had no issues so far. They'll get hotter while discharging as the light uses more than 3A while on full mode.
As far as the mount goes, mine has been ok, but I've got it done up tight and have replaced the included bolt with a larger M6 bolt which seems to stop it slipping around my bars when going over bumpy stuff.