No joke. I'm curious as to what normal person has a torque wrench that is accurate to the hundredths of a ft/lb. My ancient beam-style Craftsman can't possibly be more accurate to ±2 ft/lbs or so.
I doubt anyone could afford such a device.
The value may be a metric to colloquial units calculation error. My amazing ability to miscalculate is the reason I don't use anything but metric on machines designed to metric standards, if I can. My edition of the CB77 service manual contains a few such errors - no doubt others do as well - so the conversions should always be checked.
As for the extreme precision, people often show more digits than are justified by the initial value. In this case, as xcopy mentions, digits after the decimal point are extraneous. In general, if the value you wish to convert has, say, three digits of precision, the converted value should no more than three. This is referred to as Significant Figures
The Mars Climate Orbiter
disaster is a great example of why it is not a good idea to work in two systems of units at the same time. Even the pros can get it wrong.