IMO this discussion is being sidetracked. The discussion isn't that LI HM is too hard or the bosses need to be nerfed, it's that this being a tier 2 flashpoint and the natural progression of the game being tier 1 HMs -> tier 2 HMs, the bosses should be dropping gear of quality on par with their difficulty. The droid is definitely killable even in full Columi, but he's still unarguably more difficult than Revan who drops the exact same item (Revan's doable if Power of the Force isn't interrupted but not interrupting/cleaning Incinerate is a guaranteed wipe, and the asteroids are much easier to manage than the bubbles).
The design of these bosses means people using GF for their gear progression will run tier 1 HMs and fill out their columi set and then get nothing out of killing some very hard bosses in this fp (aka no progression), so they may just stick to the tier 1s while farming up BH comms except maybe doing this once for the weekly. I think we're only asking for all the bosses to drop Rakata level gear so full Columi people will have an incentive to run this more often on their way to accumulating a BH set. Plus 1.3 improved the heck out of the everything else's loot quality.
1) I have run this with a group in 1/2 Columi (disclaimer: was friends in vent running new l50 alts) this was also before the nerf. Every piece of gear that dropped was an actual direct main upgrade to someone in the instance.
2) T1 FPs drop ONE piece of Columi, this drops 3 Columi + 1 Rakata
3) This is the ONLY way to 4-man something that drops a Columi MH.
Seriously, the gear rewards are fine.