My battery warning came up after only 3 weeks use, I checked the system preferences and the meter said it was down to 33%. I checked the Magic Mouse and that was down to 47% after the same amount of time.
I switched off the keyboard (press and hold) and the mouse, removed the batteries and checked them independently. They came back as being about 65-75%. I put everything back together and turned them on and, hey presto!, I now had 67% and 73% respectively for the keyboard and mouse, according to the iMac meter.
Conclusion: apple iMac meter is wildly inaccurate, I suspect it measures time rather than actual voltage, just takes a guess in other words. Ignore the meter and wait until they actually run out would be my advice or you could be unnecessarily using up a lot of batteries.