Huh? No Lifepo4 cells should have a fully charged voltage of about 3.4-3.6 (depending on the cell) and should be around 3-3.2v under load.
LiCo cells usually have a fully charged voltage of 4.2v and a nominal voltage of 3.6.-3.7v.
I've never heard of a Lifepo4 getting charged at over 4v and remaining there. A while ago I accidently charged a lifepo4 cell up to 4.1v, and the voltage just bled off in a matter of minutes down to 3.5v. If you've got one at 4.6v then something's seriously wrong IMO.