I'm not a caver, but I use the SL4 as my primary when spearfishing and my backup when night diving.
A couple of weeks ago (while cleaning gear after a dive), I noticed the lense was fogged. When I unscrewed the top, the light basically exploded in my hands from internal pressure. Little bits of battery acid went flying. There was no liquid water in the case, so I assume that just enough water got in to short out the batteries (fog on lense), or I had a bad battery and the fog on the lense was a chemical film.
Regardless, I learned two things: 1) Be careful opening an UW flashlight if there is a fog on the lense, and 2) UK has a flood warranty that allowed my LDS to hand me a new replacement light (batteries included) with no questions asked.