When people say that $L/D$ is a measure of aerodynamic efficiency -- they are using the word efficiency very loosely. They are simply using it as a generic term for 'figure of merit'.
When people say that efficiency ($\eta=p_o/p_i$) can not be greater than 1.0, they are referring specifically to a precise definition of efficiency as the ratio of power out to power in. Note that this engineering definition of efficiency does not apply to other quantities (mass, force, speed, time, money, etc.).
Usually this definition of efficiency is applied to power conversion and transmission devices. Things like electric motors that convert electrical power to shaft power, propellers that convert shaft power to thrust power -- or wires and shafts that move power from one place to another. These devices do not store energy. They have an instantaneous state -- if power is going in, then power is coming out.
The fact that efficiency must be less than 1.0 is due to the laws of thermodynamics. 1) You can only break even ($\eta\le1.0$). 2) You can't even break even ($\eta<1.0$).
When we run a power conversion device 'backwards' (say using a motor in a generating mode, or using a propeller as a windmill), we must be careful to re-define what 'input' and 'output' means. Losses like friction and resistance are always there of course.
For all of these devices, the 'inefficiency' ($1-\eta$) is a measure of the power lost to friction, resistance, drag, and other phenomena that eventually wind up as waste heat. The first law tells us that $p_i=p_o+p_l$ -- the input power comes out as useful output plus losses. This lets us write $\eta=p_o/(p_o+p_l)$. Which (with $p_o$ and $p_l$ always positive) shows that $\eta$ must be less than 1.0. T
We can also talk about efficiency of an energy storage device -- say a battery, flywheel, or spring. Here again, we might use the symbol $\eta$, but we have to be extra careful.
First, we must make clear the energy we put in $e_i$, the energy stored $e_s$, and the energy we get out $e_o$. When we put energy into a battery, we might think about a charge efficiency $\eta_c=e_s/e_i$. When we draw energy from a battery, we might think about a discharge efficiency $\eta_d=e_o/e_s$. Or, we might ignore the middle step and think about a round-trip efficiency $\eta_{rt}=e_o/e_i$.
This energy storage efficiency is not an instantaneous measure -- it takes time to charge or discharge a battery. You might only partially charge (or discharge) a battery.
Energy is the integral of power over time $e=\int_{t_i}^{t_f}p\ dt$. So energy storage efficiencies are integral measures of efficiency -- think of them as an averaging process. As we charge a battery, any instantaneous transfer of power has some efficiency. Over the complete charge, there is some average efficiency that reflects the energy (rather than the power).
This is just to say that we must be careful when working with efficiencies that we know exactly what definitions / conventions are being applied and what we can do with them.
The limits of a proportion are zero and one, as one side of the ratio approaches either zero or infinity with the other side held at any finite quantity. (calculus definition of limits) – Max Power Jan 28 '23 at 06:56