Well, I got to work today and I didnt smell anything burning, nor did my bass fade out. I think its too soon to tell just yet, but its a nice start. It actually sounds really good.
I also spoke with Audio Controls today and explained to them what Ive experienced so far. They confirmed that accubass OFF is in fact threshold full RIGHT and top dial full LEFT. They also told me that I could try some resistors between the speaker level inputs into the LC2i.
Here is a pic (it says LCQ1, but is same for LC2i) describing what resistor to get and how to install them. For now, I think I will just run mine like normal and sharply monitor it for smell, heat and or bass fade. The second I notice any of the above; is when I will add the resistors to see if it helps. They said it should pretty much solve any over voltage issue. Im going to radio shack to pick these resistors up so I have them ready to go.
I'll report back later.