The green is used to minimize your visibility to others, actually a pretty cool beam it throws, but that unit is a heavy one that's intended for folks that can handle the weight in exchange for the really long burn times and the big punch it throws. That's a nice unit, but it does seem heavy for backpacking... too gnarly for me, and I use a big old 2xAA light marketed by Coleman. (I also like run-time).
In your price range, Cabelas does have a couple of Princeton Tecs that are way lighter and really pretty darn good lights:
That's the sale page link