The reason for may intensify or diminish flavor is....
All flavors taste different at different voltages (heat level)
Just as an analogy.... and I know this is kinda common sense, but it may need explaining in a more laymen term...
Don't take this the wrong way, it's not meant to be offensive. Just overly simplified?
Let's say we are (actual temps not important) vaping at 100 degrees
Raise or lower the voltage and you get 90 or 110 degrees
One juice will taste different at 120 degrees than at 80 degrees, but still be good.
Some juices taste better at 150 degrees and not so good at 100
and vice versa.
Hope this helps.
And Ocelot's post is also a great explanation on power.
I = Impedance
https://en.wikipedia.org/wiki/Electrical_impedance
In our applications, I do not believe Impedance has any affect.
Uhg, this was wrong.

I would need to research more.
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Found on the net......
I = Electrical "intensity" from the early days, (way before my time, even) it was an expression used for current.
C was used a lot in math for constants, so it was considered taken.
R of course, is resistance.
E is EMF, electromotive force or voltage.
PS: No offense to you, but I prefer E=IR. I know the trend is toward using V now. To me, V stands for volts which is a unit of EMF. Seems if we're going to start writing formulae that way we should change Ohm's law to use V=AΩ.
Just an old fart's opinion...
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Electricity is a Wonderful Magic Power, and has very magical effects on different things at different times.
It is a wonder we are able to harness it as well as we do.