If you're trying to exactly re-create, mixing by weight, a recipe given in volume, then yes, you will have to convert. But if you're creating or tweaking recipes on your own, "percent by weight" is just as valid as "percent by volume." Weight won't give the same results as volume, but the results it does give are no less valid, just different.Well, since different liquids have different weights, that means you have to calculate weight ratio of each specific liquid to get exact ratio.
Example:
5ml of PG (5.18g)
5ml of VG (6.305g)
TOTAL: 10ml (11.485g)
PG content "by volume" - 5ml of 10ml total: 50% PG by volume
PG content "by weight" - 5.18g of 11.485g total: approx. 45.1% PG by weight
5g PG (4.826ml)
5g VG (3.965ml)
TOTAL: 10g (8.791ml)
PG content "by volume" - 4.826ml of 8.791ml total: approx. 54.9% PG by volume
PG content "by weight" - 5g of 10g total: 50% PG by weight
So as you can see, a statement like "50% PG" is just as valid for weight as it is for volume, you just have to know which one you're talking about.
(One might argue weight is even more precise than volume, since a single drop weighs in at about .04g, and the scales we use have resolution of .01g. I defy you to get repeatable precision on the order of "accurate to within less than a drop" using syringes.)