For purposes of nuclear decay, I'd call anything lighter than iron "light", and anything heavier than iron "heavy". Roughly speaking, of course. The reason is that iron has the lowest energy (per nucleon) of any atom:
http://en.wikipedia.org/wiki/Binding_energy#Nuclear_binding_energy_curve
Actually, Nickel-62 has the greatest (negative) binding energy per nucleon. It just can't be made in normal stellar environments. Hence the peak in abundances is at iron-56.