Is a 150 watt LED suitable for a pendant fixture?
The manufacturer wisely states that their bulb should not be used in a fully enclosed fixture. (this is true of incandescents as well.) (it is always a bad idea to trap heat) However if you are replacing your old incandescent bulb with an LED you will need about 1/6 the wattage to produce the same lumens. (the actual brightness of light emitted). A 25-watt bulb LED will replace a 150-watt incandescent. Regarding the seeming contradiction you see in the lamp instructions; it is possible to have a globe type fixture that is vented.  They just don't want their bulbs in a non-vented globe fixture.  It shortens the life of the bulb.