The deal/problem with 'wattage mode' and wire that increases in resistance as it heats up involves not only the sometimes drastic reduction of your mods efficiency (and battery life) but a possible 'thermal run-a-way' of the coil and/or the mod itself.
Explanation:
Given the two Ohms Law equations: "P=I*E" and "E=I*R" where -
P = Power
E = Voltage
I = Current
R = Resistance
Lets have a 1ohm coil (just to make things easy) and a setting of 40W. The initial MOD setting will be 6.32V (a real battery drain for single battery devices as 'boosting' a voltage is generally horribly inefficient) and 6.32A (while that is the current at the COIL the MOD itself might be drawing MUCH more than that to make the 6.32V!!).
Keep in mind that the HIGHER the voltage needs to be stepped up from the battery supply voltage the LESS efficient the mod will be and the more power will be wasted in heat of the mod itself.
So the wire heats up and NOW the coil is 1.5ohms. What is the voltage and current at the same 40W? 7.74V and 5.16A!! While the amperage at the coil dropped the mod has to step the voltage up to 7.74V to keep providing the same wattage.
How about 2ohms? (wire types with good/decent TCR's quite often can DOUBLE their cold/room temperature resistance values when "vaping temperature" is reached (IE: ~400F). Here the mod will be trying to output 8.9V @ 4.47A to maintain the 40W output setting. (NOTE: Mod reviewers never measure the ACTUAL current draw on the battery(s) or attempt to calculate the mods efficiency)
So our poor mod is now attempting to step up our 3.2-4.2V single battery to 2-3X the battery voltage!
This will keep going as long as the coil keeps getting hotter until the mod reaches its maximum output voltage or the battery(s) have been drained. (and YES they will drain fairly fast trying to make that BIG of a step up!)
IMHO: a MUCH better method of regulation that may be missing on many modern mods is VOLTAGE mode. Simply set the voltage and leave it. As the coil wire heats up it will gradually draw less and less current/power from the mod as its resistance is increasing with its temperature.
Astute users can use "steamengine.com" to wind coils optimized for ~3.6V (approx midway in the battery discharge curve) to achieve maximum battery life) so the mod is spending 1/2 the time stepping down the battery voltage and the other 1/2 stepping it up slightly.
So what about "thermal run-a-way"??
Given multi-battery mods with fairly high to very high output power and very high maximum voltage with wire that changes resistance depending on its temperature things can go very wrong.
While many of the less expensive mods will measure the coil resistance at rest (not firing) however some chipsets will ether make multiple measurements per second or CONTINUOUSLY measure the coil resistance when firing resulting in the output voltage stepping up until the maximum output voltage is reached and/or the wick/coil catches fire (or both) or the user removes their finger from the fire button.
This my friends is why TCR wire ought not be used in Wattage mode.
YMMV.
g.