There are those who claim it reads "Pull to inflate" but it's hard to decipher because it's upside down (for the pilot's benefit).

If that's true, then I applaud the level of detail of the world-building.

I can't believe I'm actually getting into this, but:
The "exhausts" can't really be guards, as they have smaller emitters, that a potential blade could cut right through. If they were flush with the hilt, then I guess it could work.

Instead of doing that, there's a perfectly good explanation for it:

Given all the other influences in the original movie, I'd say the Jedi are Samurai and the light swords are more like katana's. "A more elegant weapon."