I know next to nohing about Linux operating systms or electronics, so bare with me, even if this is dumb.
I have a B+ and I have set up two micro sd cards, one with Openelec and another with Raspbian. (I didn't realize when I did this that with a NOOBS one could easily set these two up on the same card via a GUI).
Now, using Raspbian I frequently get low voltage warnigns, or this is how I interpret the fact that a rainbow square appears in the upper right corner, and the red led on the board goes out. Openelec never does this.... In Raspbian, this happens when I have hdmi plugged into a screen, a mcrosoft usb mouse, a 20 mA usb minikeyboard, and a usb wifi dongle. Interestingly, this does not happen with the same setup in Openelec. I am not overclocking, both of the sd cards are class 4 Kingston. The power suplly unit is from PiHut (marked 2A 5V) and claimed to be desgined to work well with B+. Now, I don't understand why this would be happening, and what is the significance of this.
Several threads on this site seem to claim that undervoltage is a serious problem. However, I am not sure if I understand why this would be so. Even thoguh the red led goes out for max one minute at a time, nothing significant appears to happen to the useability of the devices, i.e all the USB devices remain online, no crashes etc. I understand that card corruption may occur, but I have backup images of the cards, and in the case that the cards stop functioning (something that has not happened in the last two weeks that I have been experimenting with this) I have understood I could just reformat them and burn the images back on the cards. Apparently the cards can also be destroyed permanently, but micro sd cards are now relatively cheap (around 5€ for a 4G), so unless they start dying on a weekly basis, I'm not sure if I should care... Or does undervoltage cause other risks that I am not currently arare of?
At the end of the day, my question is, why does this occur on Raspbian but not on Openelec. Is there some setting in the config.txt or cmdline that I am not awre of. I tried setting max current output from config.txt to 1,2 amps just in case the wifi dongle was consuming too much, but this does not seem to have made much difference. What should I do? Should I even care?

