Hello Bastler,
Your equations are correct, these formulas are different interpretations of the same formula but it is their use that varies. The one you have labeled as equation 1 would be used to find the Volts/LSB or Amps/LSB using a current input and the RMS output. While the one you have labeled as equation 2 would be used in the case that you want to change that constant (V/LSB or Amps/LSB) and the necessary GAIN needed in order to reach that constant is the output.
Regards,
Dlath