Good catch, your math appears to be correct. That's something I'm sure theyd help you figure out if you called them up and asked, especially since they make the claim that theirs pull up to and over 2.5w per 3w chip. I saw someone running the bd220 here on riu, will have to fo back and look for it again
I'm also pretty sure nobody runs 3w LEDs at more than 1.75w which is the highest I've ever heard of (and I don't even know if it was true at the time), my 395w panel is 252 3w LEDs and the whole thing including the 6 fans is supposed to run 395w with each LED running 1.5w