Of course convolution reverberation only provides a model of a specific acoustic space. Like any model it's a simplification of the real world. Convolution assumes a linear, time-invariant 'world' that it then can model quite accurately.
But in the real world all kinds of non-linearities creep in, the way the materials of the room respond to different levels of sound is the most obvious one that would explain the differences between lower and higher level sounds. There's also apparently a huge challenge in getting impulse responses that have the best (greatest) signal-to-noise characteristic. Any residual noise left in the impulse will created will reintroduced when the model is excited by a sound. I wonder if that also might explain why a louder sound will bring up a different sounding revererant response?
Either of these, a non-linear space treated by a model assuming linearity, or the non-linearity of the impulse measuring system itself, might account for the differences Sean is demonstrating.
Beat's suggestion of mixing the best of both worlds is a good one and reminds us, again, that it's our ears that are the final arbiter of quality, not slavish adherence to a single idea just because it's theoretically better, or worse yet, the hip thing of the moment.