Some of the mentioned issues are trivial, others are not.
# the light rotates with your camera's direction, not with your astronaut's body. Holding right shift when zoomed out shows this.
# the light rotates with your build mode camera's direction and also your ship cursor when in flight mode. Shipcore also emits light but not sure if that is intended or a bug.
# can't turn of the flashlight, or adjust brightness settings, cone angle, range, etc (the settings are not really a bug so feel free to ignore that part)
# your own flashlight is not visible for other players.
# flashlight does not cast shadows.