Halcyon recently released a v2 of the switch that's supposed to address the issues that have come up; I'm waiting for mine to deliver and can provide feedback once it's arrived. My experience has been that the light had problems sometimes turning on to full power, due to magnet strength/alignment/corrosion. I'm told the v2 switch (part number 20.001.338) should address these small, lingering problems (and yes, I've usually kept spares.)~80% ocean / ~20% fresh.
The switch (see image below) that you're referring to, a piece of Delrin containing a magnet (which activates the Hall effect sensor - light on/off), is a consumable and called out as such; most folks who I know carry spares; a simple rinsing and occasional cleaning with a toothbrush will abate most oxidization of the magnet caused by saltwater. TL;DR - it's NBD, like at all.
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