Given the extreme care I have gone to in order to have the pressures dead right, if it goes off again the system must be faulty?
Whilst I don't doubt that you have been as careful as you reasonably can be, the fact remains that you are (probably) using a pressure gauge of unknown accuracy. Others have been dismissive of my idea that gauge accuracy might be a factor, but I have yet to see a convincing argument to demonstrate that any individual pressure reading might not be anywhere within the accuracy band of the gauge, and hence that there might be minor undetected differences between wheels.
My thinking is this. The gauge I used is a new one on a Michelin foot pump. They say it is guaranteed to + or - 1 psi per tyre. It will, presumably, give the same reading, even if slightly inaccurate, per tyre. In short if I inflate the tyre to 33 psi and then inflate the other tyre to 33 psi using the same gauge and pump, then both tyres will be at the same pressure. I struggle with the idea that it will be more inaccurate on one tyre than the other.
Now what seems to be happening is the system, after recalibration, is quite happy for 200 miles or so and then activates randomly. Although I have been extra careful this time, even the last time the tyres were all pretty much even in pressure. Nothing had changed since the calibration 200 miles previously.
Which is why Jocko is right. If it continues to do this, or if it is so sensitive it will fire off if, say, a piece of grit lodges in one tyre and not another, then it absolutely is not fit for purpose. It becomes worse than useless in that you will be tempted to regard any alarm as a false one.
If it goes off again, my conclusion will be that the system is faulty (unless I actually do get a puncture!)