Have both and agree with your assessment the FLO tip == iMOW tip in 2.5/7.5
I am a huge fan of intermediate heads so I like tips with an intermediate section. My floating MOW's mostly collect dust.
The one advantage I give the the Airflo product- I don't like the white colored intermediate section for the Light iMOW. It is way too visible, even though I realize the fish probably doesn't care.
I prefer the iMOW/FLO tips when I don't need a full 10'+ of T-Whatever as it means consistent length, slightly less running line to deal with and straighter casts- a short piece of tungsten on a head tends to boomerang on me when I cast.