After further use and evaluation - refresh is somewhat slow so it can take several seconds to update. For deeply discharged cells it can be in critical territory a few seconds before showing on the display.
As I said before, it's brilliant and quite useful for running RC plane, heli, car, boat, etc., where you may need to read battery info from afar. For an eBike it's merely a nice luxury to go along with an iPhone mount and/or attempting to squeeze every Wh from a battery pack.
I do like iCell and works great but I don't consider it a must have item for eBike. If you like gadgets and have money to spare - go for it!