Hello Lawrence,
I have the same issue and your analysis makes complete sense. However, how come it does works for music and other apps that use audio such as YouTube, but not for calls? I also have Tiles and from time to time audio from phone calls are mute on the AirPods. Restarting the iPhone solves the issue... temporarily. Putting the Apple Watch on airplane mode also restores audio to phone calls on the Airpods.
I found this on the chipolo's web site:
Apple's iPhone 7 and iPhone 7 Plus as of right now can only handle 6 Chipolos (no other Bluetooth devices connected) at once...
https://support.chipolo.net/hc/en-us/articles/212718449-Bluetooth-limitation-iPh one-7-iPhone-7-Plus
So, I guess that, if we have 1 Apple Watch, 2 AirPods (1 pair) and 4 Tiles/Chipolos we would already exceed the limit.
It seems that the solution is to either disconnect one of the Tiles/Chipolos (if you have 4) or connect them to another iDevice such as the iPad.
Has anyone found another solution or workaround?