Having played a bit with my Fenix TK30 (LEP, rated throw distance of 1200 meters (3937 feet)), my opinion was very quickly that this is completely pointless for any serious use, such as search and rescue, without a second person with a binocular or a spotting scope. Or having the light attached to a scope, with a second person on a radio to coordinate with rescue personell.
I tried my TK30 during a late-night walk light, and there was no way I could hold the light sufficiently steady in my hand while moving to benefit in any way from an LEP. At a useful distance for illumination, beam point was shaking so much I quickly felt a headache coming on. And shining far enough away for that to not be an issue, say, 50-100 meters, it would take me so long to get there that knowing was at that distance was pointless.
Considering I barely had any light at all shining close enough to where I needed it.
So I agree. For any single-person use, stationary emergency signaling would be the only purpose that I can think of.
...Still, I am really glad I bought the TK30. Not all lights are supposed to make sense. ^^
That said, I would REALLY like to have this technology as headlights on my car. And I know that exists, though that may be a different technology from Laser Excited Phosphor (LEP).