@catbref , props to you on your work.
Two observations:
It appears to me that the ^1.2 is the "skew" I referred to above, to reward miners with better deadlines? You said it's in the pool's config file, so each pool could have a different skew as they choose?
When I first read your discussion, I couldn't understand why you used some_big_int to be the numerator for the scaled_share formula instead of sum_scaled_shares. Then I checked out both ways and they yield the same exact % result. Interesting! So then I took out a piece of paper and started scribbling some high school algebra and came to the conclusion some_big_int can actually be any non zero number, big or small, positive or negative, e.g. 1 and the share percentages remain the same. More interesting!!
So enough discourse, this was very interesting and enlightening for me and I thank you.
I should also say it is academic for me at this point, as I switched over to solo mining shortly after my original post :)