Yes, graphite conducts electricity well, hence pencil line mods are possible. It also conducts heat at 150-500 W/mK depending on layer thickness (thinner=more conductive), so it could outperform silicon carbide (=> Are You On Pot????? (potting and heatsinking with epoxy and silicon carbide)), assuming particles dispersed in glue have similar attributes to a thin plane.
Silicon carbide is also a good electric conductor if I’m not mistaken; there is probably no direct line of particles (due to dispersion i.e. glue/epoxy gets in the way) in both cases for current to flow through. I guess I (or someone else) should run a conductivity test some time. As I said, the light is quite bright, brighter than stock despite the warmer tone, so I don’t think parasitic current is present or significantly high.
Potential corrosion is a bigger issue. Wonder how I could test it; put potting mix on some alu, put it in a moist environment, then remove mix after a month or two to inspect alu surface?
If the light stops working due to alu components on the driver (pins?) getting corroded I’ll tell you.