An adjustable CC or one which regulates to chip temperature is best design in case of fan fail.
My rule of thumb or trick if you wish, to avoid thermal runaway is to add enough wire resistance or Rs power resistor or driver RdsOn to match or exceed the LED ESR. I have applied this to arrays or single LEDs from 60mW to 100W.
The other way is to run them at 1/3 or 1/2 of Pmax.
When using the
absolute max power rating, it is very important to understand and match the heatsink performance to that of the chip, if possible or better. In this case, the chip junction to solder surface = 0.9 °C , CPU heatsink can be as low as 0.1°C/W but the sinkpad to heatsink may be poor. Meanwhile a medium sized TO-220 sink 5°C/W would not be good here for more than 12W.
... If 32 W LED temp rises 60 °C from 25 to 85 °C, they were assuming from junction to ambient , Rja = 60 °C/32W ~2 °C/W or about equal between chip to solder and solder on board to sink & sink to ambient. Forced air can improve thermal conductance x5 with ~ 2m/s flow velocity and a bit better with more. But since the LED chip area is so small the job of Watts/ sq. in or sq.cm is as challenging in LEDs as CPU's.
Note in the graph from the CREE datasheet at 85'C , and 2400 mA, Vf=12.7 ~ 12.75 and 12.5V , If=2100 mA, so ESR=ΔV/ΔI=0.25V/0.3A = 5/6 Ω
Since this is adding 5/6 Ω Fixed R @2.4A would be a 2V drop above 12.75 or 14.75 is a pretty non standard voltage,
I will retract my previous suggestion to run at 12W fixed V with Rs and instead run at 32W with a matched SMPS CC power supply for best efficiency and dim function.
The fan should continue running until cool after LED is powered off for a short while.
In small volume the CC power supply from AC maybe 50 to >100% of the power LED cost.