I never trust these calculators. In this case, I couldn't even see the site - it tells me I'm running Explorer 6 and I need to upgrade first. That in itself would produce CO2 (think of all the computers powering the internet) ... and besides, I cannot install such stuff on my office computer.
The thing is, the alternative for my bike commute is the London Underground. But my tube journey has no inoticeable incremental effect on power consumption of the tube train, and will not lead to the production of extra trains either: TfL will not in a million years (well, not in the next couple of years in any case) run extra trains to accommodate more passengers on the Northern Line. So a tube-generated CO2 emission figure, allocated to me based on my 'share' of overall CO2-production by the Northern Line would be misleading.
CO2 emissions for such forms of transport are not linear, but stepped, and cannot be allocated to individual travellers in a meaningful way that gives the individual traveller a choice of CO2-impact reducing behaviour. Methinks.