Have you read it? Pure guess, I bet you haven't.
The latest EPS standard refers to:
* Removal to references to common and split 12V planes (ie you can add the 12V rails)
* Added cross loading plots (i.e you can add the 12V rails)
* Increase 12V rail currents (over and above 240VAC safety limits on ATX PSUs)
btw, efficiency issues will simply mean it will draw more amps from the wall to deliver the intended power - it doesn't work how you have described, and duty cycle is expressed practically in MTBF ratings, at least 40oC. So really, with a 7 year warranty, who gives a shit.
*edit* oo i can hear google being hit hard now