Perhaps my explanation for zeuss46 will help?
Actually, it doesn't. Basically, you entirely missed Jed's point. Yeah, his expression kinda sucks. You are literally correct. But his substance was, in fact, that this was irrelevant to actual cold fusion work, because nobody is claiming significant results at COP 1.01.
Quotesuppose a 1% cal error results in measured COP=1.01 with 100W in, or 1W excess power. Run expt for 1 year and you get 10MJ excess heat which is maybe well above chemical. A contrived example but you can see the point? Both excess heat above chemical and fractional excess power are relevant to evaluating LENR experiments: you need both to claim heat evidence for some nuclear effect.
To see why I said this you need to go back to your remark about excess heat and the context in which you made it!
Indeed a contrived example, and that is Jed's real point. This is just mishegas, irrelevant. I am not going back to the original context here. It becomes tedious. In the end, how much does it matter of some post back then was completely correct?