IO-540, I'm sure you are very proud of your IMC.
But the official view is that it is insufficent for flight in IMC (CAA's view) and if you read a couple of the AAIB reports you will see it soundly condemned as giving people the impression of having skills that short changed them.
In the real world you also find the vast majority of people who get it, do not renew it. Yes there is a huge PPL dropout rate - there is even in the US where an IR is attainable, I very much doubt theIMC rating is anything much to do with it.
What keeps you safe if you insist on venturing out of sight of the horizon and the ground? Well the nearest to it is an FAA IR. But even that is going to be pretty useless unless you practise very regularly. IFR needs currency.
I completely agree that the situation with the JAA version is little short of disgraceful. I'm sure EASA will sort it out!!!!!