Continuing - the box changes size to accommodate all geometry, not just the solid kind, and expands for any number of reasons. For example if a 1000 inch long straight line curve is wrapped around a 1 inch cube, the extents for the resulting object will be 1000 inches in one direction, even though the curve is 'consumed' in the wrap operation.
The Pro/E bounding box is in terms of the default csys. Check the bounding box size for a block that is aligned to the default csys and compare it to the same size block created at 45 degrees to the default csys. Of course, having said that, I'll have to check it, but I can't believe the PTC developers would do anything more sophisticated when the use, to set accuracy, doesn't change much by being more precise. See axis-aligned minimum bounding box, below.
It's also very difficult to determine the general case for minimum bounding box. Again, in the case of the sphere, there are an infinite number of minimum bounding box solutions. They are all the same size, but have different orientations. Which is the correct one?
I was referring to facet generation, with full precision for the OpenGL pipeline, not the bitmap conversion at the end. Pro/E has to convert the abstract representation into 3D coordinate values to develop facets to create the display; values that have no existence in the model. It's a similar operation that is used to calculate silhouettes/horizon lines in drawings, which is why you can create a dimension there.
From Wikipedia
"Axis-aligned minimum bounding box
The axis-aligned minimum bounding box for a given point set is its minimum bounding box subject to the constraint that the edges of the box are parallel to the (Cartesian) coordinate axes. It is simply the Cartesian product of N intervals each of which is defined by the minimal and maximal value of the corresponding coordinate for the points in S.
Axis-aligned minimal bounding boxes are used to an approximate location of an object in question and as a very simple descriptor of its shape. For example, in computational geometry and its applications when it is required to find intersections in the set of objects, the initial check is the intersections between their MBBs. Since it is usually a much less expensive operation than the check of the actual intersection (because it only requires comparisons of coordinates), it allows to quickly exclude from checks the pairs that are far apart.
Arbitrarily oriented minimum bounding box
The arbitrarily oriented minimum bounding box is the minimum bounding box, calculated subject to no constraints as to the orientation of the result. Algorithms exist to find the minimum bounding box of a two-dimensional point set in linear time, while the minimum bounding box of a three-dimensional point set can be found in cubic time."