That and the wires are hair thin, and couldn't possibly carry much current.
Yeah the only way would be to super cool the diode using TEC I think its best to run them at 1 watt and be happy they should last a long time since they are known to be pretty hearty little diodes I just hope they get released to the market place some day so we dont have to destroy Projectors to get them the company that makes the Projector "C" will not sell them and will not even sell an array you need to send the array in for repair.
Well, the problem with 'carrying current' is that things heat up when you send a current through a piece of metal. If you can't get the heat away from the metal fast enough, it'll melt and you end up with a nice piece of useless 445nm diode can.
Even if you can carry the heat away from the bond wires fast enough, they will become warmer and, in turn, weaker (aside from expanding thermally). This also means the stress on the wires as a result of magnetic forces will be a bigger concern with warmer (and softer) wires and high currents.
Remember that the combination of die and bond wires inside the diode can acts as a wire loop which generates a magnetic field. Essentially a 1-turn coil, and a coil has a tendency to push itself apart because of its own magnetic forces.