Wow.. the amount of ........ in here needs a shovel.
Way too much overthinking here...
1) The resistance is read by the mod, this includes the tank, the contacts, etc.
2) locking it give the mod a reference for TC, WHICH, is calculated by a differential of resistance (TCR value for the metal) as power is applied. That's it. If you decide to not lock the reading, then the mod will still calculate from same differential values, but could be a bit off of the temperature set and reached.. not probably enough for most to even notice.
That the resistance is 0.2 or 0.4 or whatever, the way the mods does TC will use the exact same formula as it's "goal" is to control how much changes in variance is going on.
More detailed info about the physics behind it:
3) the wattage set is what it will push to the coil, regardless of the ohm reading. There is no way in heck that the mod will start pushing 100W if you've set it at 50W because the ohm are different from what you believe them to be, it doesn't work that way.
The option of modifying what the mod reads is a very questionable "option", as I know that any build I do, from my meter to my various mods, can differ a tiny bit (0.01-0.05 or something like that), but it's far from anything that I'd worry about as it could be the wiring of the device, the 510 pin, or just the soldering, etc.
I wouldn't worry, nor even touch this option. What SMOK has put that in looks like they did just to have an extra bell and whistle...reminds me of Clippy for Windows.
Doing a tiny bit of change in the ohm reading won't change much if anything at all (at least that you could detect). Worse scenario, you go crazy and mess with it so badly that you could end up frying something, but odds are, the mod would simply give you an error message.