Yes, it also applies to the brass caps, relates to the anodizing. Some of the BP have the off feature working OK, but Mike has come up with a positive turn-off approach that will take a cap replacement; found out about that in the initial production deliveries, the joys of finish tolerances.
There is nothing to worry about from a battery drain standpoint -- the little red LED is very low power consumption. There is the possibility of an unintended turn-on (not a hazard, just that you heat the atty/carto) if you put it in a pocket then press on it. I've had this happen, with the Infinity and now the BP, so intend to pick up the new BP cap when it is available, but for a lot of people it is a non-issue/don't care.