I strongly suspect that CH1907, said to be published in 1917 by Sterling in Philly, should actually be CH1917. Can't really see a good reason to perpetuate the wrong information, but I leave it to you to decide.
The hymnal ID does not necessarily have to match the publication date. We prefer that they do, especially for new hymnals that are being added, but there are DNAH hymnals that had mistaken dates.
It seems to me it would cause less misinformation if such cases, as they were found, were moved to the correctly dated hymnal ID #.
It is only misinformation for editors who know the code. The correct information is in the hymnal record. Changing the hymnal id involves creating a new hymnal, copying the contents over to the new hymnal and deleting the older one.