Discrepancy: Current Virtual Server Connections

Are you sure you're not comparing OWA user sessions to TCP connections? There will typically be up to 8 times as many TCP connections as there are user sessions (due to the 8-connections-per-hostname limit in most browsers). 5 sounds like an expected multiple.

Otherwise I'd say wherever you're monitoring connections in Exchange must be counting things differently - perhaps not counting Keep-alive (but idle) TCP connections.