Connecting a standard 120V incandescent lamp on 240V mains is not the same thing. You are right, it will burn it out very quickly, since there is no ballast.

The original question here involves a ballast, which will limit the current like Medved stated. It will most likely shorten the life of the SBMV, but will most likely not destroy it immediately.

You may be surprised, but the OCV is irrelevant, once the current is limited and it is within the range of the load, if the load is stable with a constant current supply.
In other words: The voltage would never go that high because of the load presented by the lamp.

It is the same as thinking about the maximum current the mains may deliver vs what your incandescent is designed for and panicking "a 30A outlet will blow a 0.5A lamp instantly". You pretty agree it wont, if that lamp is designed to the voltage in the mains. And the same is with the loads of a constant current source: 240V OCV can not blow a 120V lamp, if the lamp can take the source output current (the 1.5A of the ballast, vs 1.4A of the 160W SBMV)

So because of the high OCV, what we have is a constant current source supply.
That is a component, which feeds all the same current, regardless what voltage drop the load presents. So an ideal constant current source may go to an infinite OCV, yet still no problem at all.
The voltage is then all the voltage drops across both components of the lamp, summed together: The arc tube drop, plus the filament drop.
The arc tube drop is rather insensitive on the current, so it will be the same as when the whole assembly is operated at 120V.
The filament is an incandescent lamp, so in fact a resistor A resistor means, the voltage drop is Resistance times Current. So we should know, what the resistance would be when fed by the current source, so what the voltage drop would be, so how much the filament would be overloaded. If you look into any incandescent characteristics, once the major power dissipation is the radiation, the resistance changes only a little (because only small temperature difference has big impact on the radiated power), what means the thing is only mildly overloaded with that small (7%) overcurrent (the voltage drop would be about 15% higher than designed because of the extra current).

For many people is hard to grab the concept of constant current supply and its duality nature compare to the well understood constant voltage supply:
The constant voltage maintains the voltage constant, so not changing, whatever the load does with the current.
With constant current the current remains constant, regardless what the load does with the voltage.
With a constant voltage, the voltage is dictated by the voltage source and the current by the load conductivity (so 1/resistance).
With a constant current the current is dictated by the source, the voltage then by the load resistance (so 1/conductivity).
With constant voltage source system, multiple loads are connected in parallel, if they are supposed to not influence each other. The maximum is given by the maximum current the source is capable to deliver. That capability could be then described e.g. as a Short Circuit Current.
With constant current source system, multiple loads are to be connected in series, if they are supposed to not influence each other. The maximum number of loads is given by the maximum voltage the source is capable to deliver. That capability could be then describer as e.g. Open Circuit Voltage.
In both cases the Power = Voltage * Current * PowerFactor.
With constant voltage, higher load conductivity, so lower resistance, means higher current, so higher power delivered to the load and vice versa.
With constant current, higher load resistance, so lower conductivity, means higher voltage, so higher power delivered to the load and vice versa.
With a constant voltage, the load voltage rating has to match the source voltage output.
With a constant current, the load current rating has to match the source current output.

The SBMV is an incandescent with a series discharge. So in order to judge if it is overloaded and how much on a constant current source supply, the determining parameter is the source output current.

Thank you for all the info !