What you're looking at is only related to CIQ apps, and not total memory available. There's a limit as to the total amount of space that all CIQ apps combined can take on the watch. Also, there are 32 "slots" (on the f5) available for CIQ apps, meaning you can only have 32 apps installed. If you have 3 available slots, it means you have 29 things installed and can only add 3 more. (apps = watchface+data fields+widgets+watchapps here)
