The reason that you get more transmission loss with a more powerfull car is that it takes more power to spin your gears, prop, wheels etc if you are accelerating quickly(a powerfull engine) than if accelerating slowly( a less powerfull engine)
Think about it, you know when you were kids, and you turned your pushpike upside down, and turned the pedals?, it takes more effort to accelerate the back wheel quickly, than if you were to build up speed slowly. You are still turning the same wheel, just as you are turning the same transmission, only quicker.
As i understand it, thats how a dyno measures power, how long it takes to turn the drum of the dyno. A dyno actually only measures torque, which is then equated into horsepower. Its something to do with that formula Power= work done in a given time, sounds a bit too much like algebra to me though, and i hated school!
I think the reason it's important,(if it is important at all) is that there are a lot of people quoting flywheel power figures, when the car hasnt been anywhere near an engine dyno, would be nice to know how they arrived at the figures they get.
Also, its important to understand why, and where we lose power, so that we can do something about it, would be nice to get an extra 20/30 bhp, just by messing about with the transmision somehow
Cheers, Dave