A quick back of the envelope calculation suggests the LED is drawing about 3mA, so it wont be very bright, but by the same token the resistor is operating at a reasonably safe level, assuming it to be 1/2 Watt.
If as may well be the case, it is a 1/4 Watt, then don't hold the button too long (not more than perhaps 30 seconds max, which is all you need anyway), or the resistor will get pretty hot and if repeatedly stressed like this, eventually fail.
If the resistor fails (it would generally blow open circuit), it is no big deal, the unit will still operate, but the light wont work.
If the resistor fails, or starts to look a little cooked over time, swap it out for a 1W 100 k Ohm replacement.
Oh, and perhaps rather obviously, don't operate it with the back cover off, as all of that wiring and soldering is live at mains voltage.