You are correct. I too had one with the internal IQ4 module. It's just sitting there doing nothing at this point.
There has been some discussion that the dual voltage jack could be used. However, that plug (which comes with most of the IOTA converters I believe) charges at a constant 14.4 volts. There's no lower voltage with the plug. Maybe it will lower the amps to zero. Maybe it won't. I haven't seen anyone test it on a LiFePO4 battery.