I've been thinking about that incident, and the other reports in that thread of flashlights exploding. I think Fracmeister's experience was the worst case; a flashlight explosion can't get any worse than that. Flashlights explode because hydrogen leaks from a battery and forms a hydrogen-air mixture in the sealed case, and that is ignited somehow (it doesn't take much at all to set off the right mix; a tiny static electricity discharge would do it, or the tiny spark in the switch every time you turn a flashlight off -- the friction of unscrewing the cap might be enough). There's a limited amount of air in the case, though, and that limits the explosion, no matter how much hydrogen the battery emits.
I don't want to store all my water resistant flashlights with the cap partly unscrewed. I'm thinking from now on, though, whenever I unscrew the cap to change batteries I'll be expecting it to go off and I'll treat it like unloading a pistol. I'll point it in a safe direction and keep my hand out of line with the "muzzle" as I unscrew the cap, just like I avoid putting my hand in line with the muzzle of a pistol as I jack the slide back to clear it. I think that will be adequately safe. If it goes off the cap will tear out of my grip and no doubt sting my fingers a bit, and the flame coming out could burn me a little too, but I figure that can't do me any real injury. The danger is if the cap hits me, especially if it only travels an inch or two before striking my hand; then I'd get hit with the full muzzle velocity.
Thanks for posting that! I'd had no idea there was any danger in unscrewing a flashlight cap.