This is a common misconception. In theory, this should be correct but due to how measurements are taken and converted from Sabines to coefficients, it doesn't work out that way. It's actually a simple ratio rather than a percentage.
The reason it has issues is due to the edges of the samples. For instance, if I take a measurement of 80 sq ft of a product and get 80 sabines absorbtion at say 250Hz, my coefficient is 1.0 Now, if I get 90 sabines absorbtion, I get a ratio of 1.125 for the coefficient. How can we absorb more than 100%? We can't. However, the number is correct.
The problem is that when the formula is run, we divide sabines by the surface area of the face of the sample. This is the standard way to do measurements and calculations. However, if the sample is say 4" thick and all of the sides are exposed, and the samples are laid out as 2 rows of 5 2'x4' panels, then there is an additional 9.324 sq ft of surface area on the sides which is also absorbing and accounting for the additional sabines recorded - but this area is not figured into the coefficient calculation.
Does this mean that the measurements are not correct? Absolutely not. They are correct - in sabines. So, a 2'x4' panel with a coefficient over 1 is still providing the additional absorbtion.
When looking at materials, you must know how the tests were performed vs how you're going to use the materials. You should also always look at the sabines at the various frequencies to see what you're actually getting. Sabines per dollar is a good way to look at things in addition to sabines per unit area from a functionality standpoint.
Bryan