I'm not certain, but from what you said about blowing into a "fan thingy" I would guess that your test was not VO2Max, but a "submaximal" VO2 test.
For submaximal determinations, an athlete's max VO2 is predicted while their lactate threshold is determined based on physiological tests which do not take the athlete to his or her absolute fatigue point. For maximal VO2 tests, on the other hand, the athlete is taken to their absolute breaking point of muscular and anaerobic fatigue. During the max VO2 test, the athlete's max heart rate will also be gleaned.(from this site)
This page tells how a VO2max test is administered. From the above quote, it could be extrapolated that your low LT may affect your results.