Nice program however it is not very accurate. The problem is, the voltage you set in BIOS never reaches your CPU. This is caused by Vdroop. Also, your formula will not produce an accurate value because:
A. The TPD is not the amount of heat that a C2D puts out, however, it is the amount of heat the cooler is expected to dispell. The C2D may really put out 40 watts or even less.
B. The processors Mhz has no correlation to heat output, as far as I am aware.
Now if you could measure the Amps and voltage going to the CPU, you could calculate CPU wattage.