If it was on Squidgesnes, then the battery indicator has been turned off for some time now, since it reduced performance by a substantial margin.
The low battery light has, so far, not been implemented, as far as I know. Really should have been something done in hardware, I suspect, but then that would have ramped the cost up apparrently for unneccessary reasons. Hey, that's life.
If you were using the battery meter in the firmware to check... well, it says "full" until there's abuot 30 minutes of life left (medium or midim), and if it says low, just don't even bother trying to play anything.
If it said full even at the point when the batteries gave out on the firmware meter... I suppose Energizer could have devised some way to scale the discharge of the battery so that it remained at constant voltage until it ran out at which point it hit zero near instantly, but that would seem to be very very advanced battery technology, and would go against anything I've heard about how Ni-Mh batteries work. I doubt they have. Morelikely, the battery meter wasn't working right...