To paraphrase the calculations from p. 13, the rulebook tells us that characters with Heightened Speed receive an initiative bonus equal to 1/30 their final movement bonus (round up).

And yet...

V&V co-creator Jack Herman's Dragon magazine article featuring the character Maxima gave her Heightened Speed: +1000", +33 initiative (rounded down from 33.33).

Jack Herman's Different Worlds magazine article about the Teen Titans gave Kid Flash the power Heightened Speed: +1000", + 33 initiative (also rounded down from 33.33).

Using the printed rules, both of those characters should have +34 initiative (rounding their initiative scores up). Either the same mistake appeared in both write-ups, or Jack Herman has a house rule that limits initiative bonuses to +33.

Most of the characters with Heightened Speed in the modules and sourcebooks have movement additions that cleanly divide by 30. The exceptions treat the number-rounding inconsistently.

Siren from Super-Crooks has Heightened Speed: +580", +19 initiative (rounded down from 19.33)

Sabredance from Great Iridium Con has Heightened Speed: +950", + 32 initiative (rounded up from 31.67).

On a related topic...
The hero Meganaut from Devil's Domain has this related Invention: Cybernetic Initiative Implant: +1 per Power point spent on initiative.

Chalk it up to errata my friend.

Jeff and Jack knew their creation was a bit hot to press. I think they had different thoughts later and made some choices that didn't quite follow 'official' rules.

Technically, that is following standard rounding rules.  So maybe they just did that?