I noticed that if I export data into GPX format as "Target Garmin", the depths are written out in meters but ReefMaster reads them back from the saved GPX file as centimeters. My ReefMaster version is the most recent one, updated today.
Beginning of the exported file with depth value 0.55 meters.
<?xml version="1.0" encoding="utf-8"?>
<gpx xmlns:gpxx="
www.garmin.com/xmlschemas/GpxExtensions/v3" xmlns:xsi="
www.w3.org/2001/XMLSchema-instance" creator="ReefMaster v0.9" version="1.1" xsi:schemaLocation="
www.topografix.com/GPX/1/1 www.topografix.com/GPX/1/1/gpx.xsd" xmlns="
www.topografix.com/GPX/1/1">
<trk>
<name>Test_01</name>
<trkseg>
<trkpt lat="62.7607957553" lon="25.3759999573">
<extensions>
<gpxx:depth>0.5500000</gpxx:depth>
</extensions>
</trkpt>