On a wideband calibrated for gas, yes that's what it would have read in closed loop.
I'm not asking theory, you stated you tried it, I'm asking for the results. Because some gauges are strictly going off of lambda and converting to afr, so if it was showing 14.7 with nothing but e85 that means it worked.
06 GXP | 222/227 cam/cartuning turbo kit on 8psi/meth/e85 coilovers/ still on stock trans at 130k