The grade is the number of hash marks + 2.
grade 2 = no hash marks.
grade 4 = two marks.
grade 5 = three marks.
grade 8 = five marks.
Each "grade" has corresponding standards for hardness and tensile strength and the tolerances on the those parameters.
The exact torque required to shear off a given grade of bolt depends on the configuraiton of the shearing mechanism and can vary widely with the diamater of the shaft the bolt is through, the hardness of the material of the shaft and sleeve, how sharp the edges are, the looseness of fit in the hole, the gap between the shaft and the sleeve, and lots of other things.
Then there are all the manufacturing tolerance on all of the above, corrosion, lubrication, paint, vibration, pulsation of the drivetrain torque and implement, and metal fatique to try and take into account.
Trying to estimate the inertia ise even more complicated. Its the diffence in rotational inertia (mass times radius times rpm's) that the shear bolt has to absorb. If a very light implement is stopped quickly while a heavy drive shaft, coupling, transmission, engine, etc continue to spin on the other side, the inertia of all of those heavy components exerts a lot more torque on the shear joint than the rated torque output of the tractor in a static situation.
Bottom line: it is not really possible to design the shear bolt. The engineer has to make an estimate and try it. Then, depending on how often it shears in a nuisance situation vs. how often it fails to prevent damage to the remainder of the drivetrain, you either increase or decrease the grade, diameter, or some other paramater of the shear setup.
The manufacturer's experience is what counts in this situation. A manufacturere who has been making and selling the type and design of equipment in question for a number of years will be in the best position to have the best estimate.
In this specific case, it does sound like they just made a mistake, had a typo in their document, re-used the wrong part number, etc.
- Rick