  We present new Spitzer IRAC/PU/MIPS photometry from 3.6 to 24 um, and new
Gemini GMOS photometry at 0.48 um, of the young brown dwarf eclipsing binary
2MASS J05352184-0546085, located in the Orion Nebula Cluster. No excess disk
emission is detected: The measured fluxes at lambda < 8 um are within 1 sigma
(< 0.1 mJy) of a bare photosphere, and the 3 sigma upper limit at 16 um is a
mere 0.04 mJy above the bare photospheric level. Together with the known
properties of the system, this implies the absence of optically thick disks
around the individual components. It also implies that if any circumbinary disk
is present, it must either be optically thin and extremely tenuous (10^{-10}
Msun) if it extends in to within ~0.1 AU of the binary (the approximate tidal
truncation radius), or it must be optically thick with a large inner hole, >
0.6-10 AU in radius depending on degree of flaring. The consequence in all
cases is that disk accretion is likely to be negligible or absent. This
supports the recent proposal that the strong Halpha emission in the primary
(more massive) brown dwarf results from chromospheric activity, and thereby
bolsters the hypothesis that the surprising Teff inversion observed between the
components is due to strong magnetic fields on the primary. Our data also set
constraints on the Teff of the components independent of spectral type, and
thereby on models of the aforementioned magnetic field effects. We discuss the
consequences for the derived fundamental properties of young brown dwarfs and
very low-mass stars in general. Specifically, if very active isolated young
brown dwarfs and very low-mass stars suffer the same activity/field related
effects as the 2M0535-05 primary, the low-mass stellar/substellar IMF currently
derived from standard evolutionary tracks may be substantially in error.
