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It appears that the Axim closes the circuit if the voltage is too high. I've got a battery extender which consists of 4 AA that plugs into the AXIM and it only works when I use NiMH batteries (1.2V each). Regular alkalines which are closer to 1.5V won't start the charge process.
I guess it's pretty comforting that you probably can't fry your Axim that easily.
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