It does help - i knew dryers used one leg to neutral to get 120 for the motor - i think the code changed in the 80s to require a 4 wire plug with the neutral so you didn't have a current carrying ground.
But the little ebay panel meter uses 1 current sensing coil and it looks like the other connection is to ground.
So instead of phase to phase for 240v, its seeing (and reporting?) One phase to ground?
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