If that were true, you would have a 17 Watt heater, plus all the light is free energy.
Although eventually it will become heat, but not at the bulb.
15 Watts worth of power is emitted as light, and 2 Watts as heat. That light will eventually be absorbed by walls, furniture. etc., and be converted to heat. But that's not the bulb that is getting 17 Watts worth of heat.
Maybe your laws of electricity and thermal dynamics are different since you're in Canada.
Where I live, if light bulb (or ANY other electrical device that doesn't have a refrigeration compressor) is consuming 17 watts of power, and it's hooked up to 120V, that means that it's drawing about .14 amps AND producing 58 btu's of heat per hour, and it's not from the light that's radiating into the walls, its from the power that is being consumed.
I suspect that your 85% efficiency rating that you are referring to means that it produces 85% more light than an equally rated incandescent bulb would produce at the same wattage, or something like that. I'm not entirely sure.
I do know that it's a fact that 1000 watts worth of light bulbs will produce the same amount of heat as a 1000 watt electric heater. It doesn't matter if those light bulbs are LED or incandescent, or if they were 1000 watts worth of vacuum cleaners or a computer that draws 1000 watts, or a direct short of some wires in your walls that happen to draw 1000 watts. It will all produce the same amount of heat.
(Of course those shorted wires will have the heat super concentrated in one small area, and the LED bulbs will probably spread the heat out over a large area, but over all it's the SAME amount of heat).