I ran into this problem while making the Adventure Redefined trailer, and it made some of my underground shots look a bit worse.
If the player is holding a torch when recording, then when you look at it in the replay afterwards, wherever the camera goes, it acts as if it's holding a torch, and it lights up stuff if you're using shaders. I don't know if it's possible to fix something like this, but it'd be nice if it was.
It's possible this isn't a bug anymore with the latest replay mods, forgive me if I'm wrong.
Feel free to ask me any questions you have.