You might have problems with either too thin of glass at the lens not surviving pressure, or a button getting depressed by pressure as well.
Flashes/torches built for underwater aren't that expensive...why not just get one that's designed for it??
For the thrill of playing with fun stuff like liquid rubber... an inner child thing.
I also plan to change the glass, and solder a magnetic switch in replacement of the clicky button.
I need at least 2000 lumens (effective) a both sides of my video camera to be able to light (for example) a turtle at 6-10 feet.
I have a real underwater torch (UK Cannon 100 HID) that give around 500 lumens (effective or not), and I was surprised to see that it does not light that much when at 6-10 feet from the subject.
In other words, when you want 5000 effective lumens to have to put thousands of dollars, or you do it yourself.