With LEDs, as the temperature goes up, the forward voltage at a given current goes down.
So if you use constant voltage drive, more current is passed as temperature goes up. Now the voltage and current have increased which of course increases the LED's power dissipation which in turn leads to a higher temperature and a lower forward voltage. This is the main mechanism for thermal run away.
The first level fix is to add a current limiting resistor that will provide negative feedback to the thermal run away effect. Temperature goes up and forward voltage goes down as before, but the current cannot increase because it is limited by the resistor.
With constant current drive, thermal run away does not happen because even though an increase in temperature lowers the forward voltage, the current is what you are controlling so it does not increase.
Constant current excitation makes sense from another angle; light power is almost directly proportional to forward current, so it is perfect for light intensity control. :thumbsup: