A little more tweaking.

I Accidentally discovered that you can extend the Tripod legs. Actually this light on the tripod is kinda handy. I'm also considering gluing a couple of Neodymium magnets to the bottom part but I haven't done it yet.

I also leather wrapped the handle, it's MUCH more comfortable to handle now. 

While I was doing that I went ahead and loosened the handle and squirted some silicone RTV near the hex-bolts to seal that whole area against water and then, realizing that there is absolutely nothing in the back half of the handle to damage, I drilled a lanyard hole and added a snazzy neon green lanyard I had laying around.