With the assumption that the machine has 4 GB and 64 GB (respectively for 32-bit and 64-bit) of RAM [+ swap].
Not really, the figures are added based on requests only:
I mean, there would already be an out of memory error from the OS before 4 GB and 64 GB is reached if the system itself doesn't have physical + virtual memory of that size.
The number sums up all the requests that where made for memory regardless if the memory is no longer allocated ee was disposed and used by the next allocation, since it never goes down on deallocation then if an application isvery aggresive on allocation/deallocation it is possible to overflow the counter and the application still use only 4MB of memory.