Switch tries to give you the cake and feed it to you - they give you lots of LEDs, running at high current, and they manage the heat by immersing the LEDs in a liquid [liquid water has a conductivity and capacity for heat ~5x greater than aluminum even with a lower density]. But this has its own problems that you can probably imagine - not least of which is that the liquid probably absorbs more light than it gives back by removing heat.
Based on my "in the know" status, I can tell that Switch will be losing big bucks trying to sell those lights at $20 but they are working hard to cement themselves in the market early. I'm very sceptical and look more towards smaller innovators like LEDNovation and LED Integration Technology.
http://en.wikipedia.org/wiki/Light-emitting_diode#White_ligh...