You are correct.
Its the LD-29 driver. I mentioned it in OP.
I have now shared my findings with the 3-18V driver i mentioned in OP too. you guys can now read about it here.
Thanks Justin… That have been my thoughts too…
Im just thinking that when you run it on say, low, you will barely have any voltage sag at all. So with freshly charged batteries the driver would get up towards 5,6V (1,4*4). That is way above the rated 4,5V. And the LED would only need around 3V. But I as others have mentioned, I believe those drivers should take 6V max. And with a very low current I would assume it would be no issue. Except quite low efficiency.
But do you (or others) have experience with it? Basically, reliability when used for a longer amount of time on low or medium with freshly charged batteries.