Yes, the only way to get a reading of the theoretical Ca and alk levels is if the water is free of any ion, and if you can somehow get little to no CO2 in the water... like maybe supersaturating the water with O2 to near 200% O2 saturation. The other thing to mention is the accuracy of most aquarium tds meters. I have found them to be rather inaccurate and not the easiest to calibrate correctly. I recently compared a typical "cheaper" tds meter to my calibrated conductivity probe on my YSI 6920 and the YSI was reading a conductivity of nearly 38 and my tds meter was reading 0. I would imagine that could cause a decent sized precipitation of Ca which could be a reason for lower than expected values.