As soon as I found out about this light, I had to have one, but I was reluctant to order an MS03 because of the widely rumored red light fiasco. I decided to just go ahead and order an MS03W anyway to see if Imalent has actually fixed the issue as they've claimed. I just received mine in the mail today and have been messing with it for about an hour. I've cleaned all the contacts. They're good. Here is what I've found:
With the battery fully charged to 4.20 volts, no issues in Turbo mode. Constant green light when on and no problems. Of course, it get's very hot really fast. No shocker there as this thing is silly bright for it's size and weight. After a while though, I did get the dreaded "red light" but my MS03W is fully functional with the red light flashing. I can stay in Turbo mode, turn the light off, then turn it right back on and go right back into Turbo mode. Again the red light starts to flash, but again, the MS03W is fully functional putting out max brightness. I pulled the battery and checked it's voltage and it's just below 4 volts in the 3.9x voltage range. I charged it back up fully, 4.20 volts, and no red light in turbo mode for a while. After a while of blasting the light in turbo and high, the red light came on again, but just as before, the MS03W was still fully functional. I pulled the battery and checked the voltage again. The same thing. It's just slightly below 4 volts.
So my MS03W appears to be perfect with a flashing red light in Turbo mode after extended use which basically just lets me know that the battery is lower than 4 volts.
Does anyone else have one that acts like mine?