In general, throw is dictated not just by the lumens rating, but also by the beam pattern. In particular, throw is affected by how focused the hot spot is. A simple example is a 100 lumen spot beam vs a 100 lumen flood beam. A complicating factor is that in outdoor applications, "warm" LEDs seem to work better in things like foliage than "cool" LEDs.
With the M60 vs M60W, presumably the beam patterns are identical, so the hot spot intensity probably is related to the lumens rating and probably in the same ratio. Also, the warm vs cool LED color might offset the difference in total lumens. But let's ignore that for the moment.
If you knew the lux value for the hot spot, you could try to estimate the relative difference in throw by assuming spherical expansion of the beam (essentially an inverse square law). For example, if the M60's hot spot is measured at 6000 lux at 1 meter, then we might assume that the M60W's hot spot is 4340 lux at 1 meter (based on a 170 lumens rating for the M60W vs 235 lumens for the M60). Then
Beam Hot Spot (Lux) M60 Corresponding Distance (m) M60W Corresponding Distance (m)
1000 2.4 2.1
100 7.7 6.6
10 24 21
1 77 66
The ratio of the M60W range vs M60 range for a given amount of lux is sqrt(170/235) ~ 0.85 for our assumptions of an inverse square law and that the beam patterns for the two drop-ins are identical. Thus, the M60W has about 15% less throw than the M60, while the difference in lumens is ~28%.
Moon light ranges from 1-10 lux, for comparison.
So, if it takes 1 lux to see something, then the M60 can deliver the 1 lux out to 77 meters while the M60W can reach out to 66 meters (for our hypothetical M60 hot spot of 6000 lux at 1 meter and M60W hot spot of 4340 lux at 1 meter).