"Why do the pipe sizes listed for these couplings differ from the corresponding outside diameter of the pipe they fit?"
No-hub couplings were designed primarily to fit cast-iron pipe, but can also fit many types of plastic and steel pipe; the size of such pipe is determined by the "nominal" (or approximate) inside diameter of the pipe. We list the approximate outside diameters, too, so you'll be able to determine whether or not they will fit your pipe.