The router is measuring it's PEAK horsepower, when the universal motor is about to stall for the split second before the breaker trips.
The table saw is measuring it's RUNNING horsepower when the induction motor is under load, but not about to stall.
I have a 3HP Unisaw. The motor requires 240V and under full load it will draw ~12.2 amperes, or ~24.5 amperes at 120V. Under full load it will draw nearly 3,000 watts which is nearly 4HP. The router can realistically only draw about 1,800 watts before the breaker trips and that comes to about 2.5HP. Each horsepower is about 746 watts. Of course, these numbers aren't hard and fast and it isn't so clear cut because there are variables due to heat, resistance, voltage variances, changing loads, etc.
Shop vacs are the worst at this, claiming "6.5HP" when the spec plate says it draws 9 amps at 120 v.
What they don't tell you is that "6.5HP" is measured when the rotor is locked and cooking from all the current it's drawing just before it catches fire.