the problem is there are a lot of sharks swimming in these waters. all these different names are designed to confuse and make money. you cant learn about such as that and know what youre doing by trusting what they say. without standards, it could be anything. and that is confusion thrown in on top of what is already some hard concepts to get.
basically you have elemental tinctures, aqueous solutions of elemental iodine (all of which require potassium iodide and all of which are technically "lugol's") and finally a straight iodide soulution, usually a saturated solution and called as such (SSKI). thats the basic structure and everything else hangs from that.
to take 5% lugols and dilute it with water and call it 7% is deceptive, no?