Speaking of Light and that time altering ability, it wont stay on her permanently due to her regen. So even if you turn her to dust, she'll just pop right back to normal a few moments later.

her toon hammer though, that has no regen, so it wont regenerate, but it'll probably be a bit more durable to the affects of aging due to its own laws of physics. How that is affected, I have no clue.

Light herself doesn't really use it anymore though, so you wont be seeing her and a weapon together anytime soon.