When using the UCO candle lantern in a tent, I noticed right off that when it was hung high, the heat all went up and didn't heat the tent well. So I set it on a flat rock on the tent floor when I didn't have my metal drybox to set it on. And for safety reasons, I always extinguish it before I go to sleep. I depend on my sleeping gear to keep me warm at night, not external heat. And it generally does not take long for the just-lit lantern to heat up the tent in the morning so that it is tolerable to get dressed.
As for the carbon monoxide issue, every tent that I have had was sufficiently ventilated to keep that from happening with a single, low-emission candle. Most stoves and heaters state on them and in the instructions not to use them in an enclosed area because of carbon monoxide and oxygen depletion.
Yes, tea candles (fondue candles) are intended to fully melt and become like oil lamps when heated up. The UCO candles and the "pink lady" camping candles are designed to burn slowly with little melting and puddling of wax.
As for the weight, I just weighed my standard UCO with full, new candle and it came in at 6 ounces. Not exactly a brick. Only slightly more than one Mountain House freeze dried lasagna meal. But one can carry just a pink lady (or UCO) candle by itself at one ounce.