I don't think this is true. If I put a 1.2 ohm coil on my MVP and set it to 11 watts, it will fire that coil at around 3.6 volts to hit that 11 watt setting.
If I then switch over to VV mode and set it to 5.0 volts, it of course won't fire at 5.0 volts, but it is obvious from the sound alone that it is firing at more than 3.6 volts (i.e. more than 11 watts). I'll try to verify this with a multimeter when I get a chance, but it is very easy to tell just by the noticeably hotter vape and louder sound that you can go higher than 11 watts with a low-resistance atomizer in VV mode.
This is definitely not true. A 0.94 ohm coil will hit the 3.5 amp limit, but it will still fire all the way down to 0.8 ohms. At 0.8 ohms, it needs to fire at 2.8 volts in order to stay below 3.5 amps, so it is certainly possible for the electronics to drop the voltage below the minimum user-settable voltage.
Basically, I don't think the limits for voltage and wattage that the user can set (3.3 - 5.0 volts, 6.0 - 11.0 watts) are the physical limits of the device itself. With the right coil resistance and settings, the MVP is capable of firing outside the limits of its user interface, until of course the actual 3.5 amp limit is reached.