Correct (no question mark => assuming statement). Neither Canon firmware, nor ML will show the exact shutter speed on 7D. The former shows so-called market values (look it up on CHDK), the latter shows an approximation based on Canon's internal representation of shutter speeds (we believed it to be correct some years ago, but found out not to be the case).
More info
here (a few models report exact shutter speed in ML, others allow
SHUTTER_FINE_TUNING) and
here for some experiments on 5D2. The method for getting exact shutter speed has to be ported to all models - easy coding task, but low priority (mostly because it's hard to get tester feedback on such nitpicks, and this one is likely model-specific). Maybe after being able to emulate LiveView in QEMU (to have a way to test it without waiting for months for user reports).