Patrick, I have the same wrench and you're right, it is incorrect. When ever you're measuring torque the units (English system) are LB-FT or LB-IN. It's always been this way (at least according to my 1965 College Physics book).
Check this ad from Ford -
2013 Ford Mustang Sports Car | Up to 444 Horsepower Delivers Smoking Hot Performance | Ford.com Click on the picture of the engine.
http://auto.howstuffworks.com/auto-p...tion/fpte4.htm
Bob