"VM" is the Virtual Machine, and that won't change on a watch until they get FW with the fixed VM. The VM on watch can be different than the SDK version. (and usually is!)
At the time of Brian's post, it sounds like it it only a problem for devices that have 2.1.x VM's (va-hr, fr 735, Edges, and possibly the fenix chronos)
Sounds like the VM where this is fixed wasn't in the new FW build to me (IIRC you first saw it with 2.1.2). Changing VM's, the way I understand it, is really up to the platform groups and not CIQ. You probably won't see the fix until a 2.1.3 VM (or later) is on the watch.
Regardless though, the bottom line is that the wrong value appears on the watch for the user. However they fix it, Garmin needs to put the pieces together and get it done.
To add, i haven't updated my own data fields in the CIQ store because i don't want to introduce this bug (earlier versions work fine).
This was fixed between the 2.1.2 and 2.1.3 VM releases, and will be fixed for users when their device releases firmware with the 2.1.3 VM. On the ConnectIQ side we unfortunately can't do much to make these device rollouts happen sooner.