The “level meters” on LR-16 not very precise (because is not realtime), the main functionality to provide input level/clip indication.
According to the LR-16 specifications, the input levels are depend on the PAD switch.
The maximum input levels:
Full-scale input (pad ON) Unbalanced, 20dBu, 7.7 Vrms
Full-scale input (pad OFF) Unbalanced, 8.2dBu, 2 Vrms