Ryan-
In the past, I tried using light strings on instruments engineered for medium gauge strings and it was not for me.
Many players interchange them freely and that is what they like. To me, they sound thin and lose a lot of the tone.
I end up adjusting my playing...so instead of a bend, slide up to the target note.
A Taylor rep once told me that they do not recommend it either.
Of course people do it every day. I am not one of them.