Can't help you on the technical aspects, but I think I can help clarify some things by giving add'l info.
It's not exactly fully true what you're saying about the readings.
The readings do what you said ONLY IF YOU'VE RECENTLY RE-SET IT (or if you just had a fill-up).
I think the readings do pretty accurately tell the average mpg SINCE THE LAST RE-SET.
And the mpg on the TSX apparently is just extremely sensitive to how you're driving.
Yes, when you floor it, it seems like it uses up about half of your gas tank.

I'm exaggerating. But it does eat up a lot.
And when you're coasting or just driving easy, it uses little.
And I doubt it's any kind of "artifact" due to how the gauge works. It's how much gas the car really does eat up.
Drive it hard, it'll eat up a lot, and it'll be reflected on the MPG gauge.
Drive it easy, and you'll see the MPG climb.