I may be wrong here, and this may have already been said in an earlier post, but from looking at the formula and comparing it to various base recipes I have, it would seem that the .40 is actually the water % in the recipe, or rather, an approximate. This would explain why it doesn't come out quite right for some. If you use a water % other than 40 then the formula will be off a little bit. So, if I'm correct, and I may not be as math is not my forte, the formula should be as follows:
Length x Width x Depth = Volume
Volume x Water % = Total oil weight for mold
By way of example lets say the interior dimensions of the mold are:
Length=24"/Width=3"/Depth=2"
So...
24 x 3 x 2 = 144 cubic inches volume
If we're using a water % of 40 then:
144 x .40 = 57.6 oz of oils
But now let's say it's your first time making soap and first time using soapcalc so you opt to go with the default 38% water. Your equation is 144 x .38 = 54.72 oz of oils
So that 2% variance in water gives us a variance in total oils of 2.88 oz. not that big of a difference, but let's say you use 33% water for your recipe. Now your equation is:
144 x .33 = 47.52 oz of oils
That gives you a variance of 10.08 oz of oils. This is a significant difference. If you make your recipe with 33% water, but calculate using the standard .40, then you will still have a considerable amount of room left in your mold after you put the batter in it. And this doesn't even account for coloring, fragrance, or additives...though these are usually a much smaller % in most recipes.
The initial formula with the standard figure of .40 is solid, and will get darn close for most people, but if your recipe calls for a rather steep water discount then you would benefit from recalculating and swapping out the standard .40 for whatever your water % happens to be. 38% water would be .38, 33% water would be .33, etc.
Again, this is just a theory and I may be way off base with this one. Maybe at some point if I have some spare time and supplies I will do an actual test of this theory and post my findings here. I'm actually rather curious to know for sure. I hope this is helpful.