I'm new to the rebreather stuff just beginning to learn about it now. Isn't the amount of CO2 you are exhaling proportional to the amount of O2 you are metabolizing. Theoretically couldn't you calculate the amount of CO2 being exhaled from the rate of O2 being injected back into the loop?
In theory, yes. The problem with theory is it doesn't always bear out in reality. Some people produce much more CO2 than others, for reasons which aren't entirely understood. Using calculations based off of O2 consumption might put you in the ballpark, but there would still be a lot of room for error.
Then you get into scrubber efficiency. You could have two identical units packed by different people that yield vastly different efficiencies.
Then... Well, you get the idea.