Ok, looks like a workable design.
I like the lightness because it makes for easier retrieval, and transport. (easier transport will make it feasible to use it more), thirdly less material makes it a bit more affordable.
A few idea's:
1 - put the light halfway on the beam, it will give a better video because there are no close up particle's lit.
2 - put also mounts on the other side, with the same surface area of the light and cam on the other side. Don't put weights on the other side, it will only slow down the retrieval process. Secondary, maybe you want to punt an extra light and or camera on the other side in the future too.
3 - fix the mounts, the cam and light really firmly because it's likely those heavy narced freedivers will graciously whip it with their monofins! - best is to have the tools hang under / lower then the beam.
4 - Allow for two lights on each side, just to have some redundancy for those precioussss records
Let's see if our responses line up in time again! LOL
Kars
ps if you have a mount for a horizontal pipe near the top you have a VWT sled too.