I have in my hand right now a b+w orange filter (040 - or perhaps you know it by some other number or letter) and written on the ring is "4x" which I am guessing is the filter factor. This means that I open up by two stops.
B+W quote filter factors by how much extra exposure you need to allow - and show it rather neatly (IMO) on the inside of the filter ring

As you correctly say 4X = 2 stops
Almost every filter manufacturer gives this info in different ways - but each to their own
I find it a lot easier to stick with one Filter Manufacturer for this reason - saves confusion towards the end of the day when mistakes start to creep in.
Filter Factors are not an exact number - there are too many variables to make a hard and fast fixed value - but they are a good guess and tend to be on the safe side (ie extra exposure)
Martin
