Measuring current draw from modern LED lights.

Does your meter show power factor? Maybe they have poor power factor and the meter is showing 'apparent power'?

Don't think so, I'll have to check the meter again later when i get a chance, thanks for your input.

Current could be pulsed, that would cause RMS current to be higher than average current but a cheap merater is going to read average current.

Not a current draw...

What equipment do you have? What measurement did you make? How?

If both the reading and the labelling is correct and they are supposed to consume half of the power that they are doing, then they would likely overheat and potentially set fire to something.

The manufacturers might be afraid of being sued if the lights set fire to someone's house.

A mistake with the rating printed on the label is more likely though, or that your meter is simply confused by the switch-mode current limiting.

If it was a 'Dick Smith' meter then that wouddefinitely be the reason. I've got on the gives V/2 on a battery, let alone a plug plack I'm testing.

Watts are a measure of power not current, but never mind, the discrepancy could well be interference from the switching power supply.

No they don't. Wattage is not a measure of current draw.

My meter says 765W... and I tested two identical model lights

Clueless more like.

but IMO either the light's stated specs are

You need to ask a sensible question first. The discrepancy is either due to you not knowing what you are doing, a useless meter, the switch mode power supply causing an incorrect reading or incorrect labeling.

No doubt the manufacturer will want their lights back so they can do their own checking, most certainly if you asked them the same question.