Same thing happened to me with an XHP50.2 and two 14250’s. I did eventually reflow the emitter and it worked again for a short time until the dome fell off really easily, try testing it while pressing on the dome if you can, see what that does.
That is a piece of ferrocerium rod in there.
I saw that version on GB, was wondering about the quality of it, looks good?
Other mods I did to the tread were installing Torx bits #10, #8, #6 plus the 2mm & 1.5mm hex bits held in by magnets in the spare slots, reversed all the outer link pieces, four white tritium vials, small diamond file stuck inside one of the links, magnets on the clasp for extra closure security and added a leather patch for a more comfort fit.