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I have a battery light mounted on my Wald, it works but could be better.
Could work in your case dependant on weight of the light.How are you planning on mounting the Wald? The standard Wald struts?
I would see if you can't space the light out a bit and mount it onto the strut holes.Mounting it on the rail could induce floppyness or jiggle while riding.
And you'd need a really small p-clip for the rails to generate enough clamping force.
I've bought a Wald 137 and I'm thinking of mounting my dynamo light on the front with a P-clamp. How bad of an idea is that? My local hardware store sells these with a nut on them, I'm thinking I'll clamp this onto the upper rail flip the mount on my light. See attached sketch (probably not to scale).