You cite, in the power line, that P=IxV. I assume that I represents current and V represents voltage. When I used P=IE the I represents current and E represents voltage. How that is notoriously in error or is factually different from what you posted, I am at a loss to explain. Remember that the Vamo is using a buck/boost circuit to control power and those reading were taken in the so called RMS mode directly off the battery. The square wave being generated by the Vamo and supplied to the atomizer was not monitored, but it would be safe to assume that the voltage was significantly higher and the pulse width was controlled by the Vamo to achieve the 7 watts.
I did take part in the tests in that I took the current readings directly off two different Vamo devices that I have. I checked at both 7 watts and at 10 watts as the posts indicate. The current readings were taken using a generic multimeter that I have and it is certainly not traceable to any NBS reference but seems to be accurate enough for vaping use. The load testing was done by Tritium who is in Greece based on those current readings, specifically the 7 watt level since that is close to where most, but certainly not all, vapers seem to vape at especially if using commercially produced delivery devices. The 10 watt current readings were taken by me to see what happened at higher output levels and did show a degradation in efficiency probably caused by losses in the buck/boost circuit.
In terms of the test itself, it does represent a better model to actual vaping than a continuous high current, say 1C or higher, load that normal battery specifications show. The cyclic nature of the test, by itself, would seem to be closer to "real world" than a continuous load. The fact that accurate and constant readings of battery load and voltage levels more accurately describes what happens to a battery under normal vaping conditions which are an intermittent load, at least I feel it does.