Couple things about the GoW vs Gears 'discussion.'
Firstly, no one cares. Seriously, no cares what you decide to use for your acronyms. You'll never see an Assassin's Creed fan becoming upset after seeing someone use AC as an acronym for Animal Crossing.
Secondly GOW is almost always used in a context that leaves little room for ambiguity. Rarely will someone ever use GOW in a confusing manner. For example, if a person starts listing their favorite 360 games and they say 'GOW,' everyone would know GOW can only be Gears of War. Similarly, if someone mentions 'GOW' in a thread like this where there is no Gears of War game even on the list, then it's obviously God of War. It serves little practical value to decide a uniform rule for an acronyms since acronyms (specifically informal acronyms) are contextual by nature. The same acronym means different things in different contexts.
Thirdly, everyone uses Gears for Gears of War. People almost never use Gow for Gears of War, so confusion is pretty rare.
Fourthy, if Gow is ever used when A.) there is no context, and B.) the person for some reason doesn't use Gears for Gears of War, then it's actually universally agreed that the default meaning of Gow is God of War. Like I said above, the semantic context of a word is important. However, what's also important is the context of the population you're discussing with. Sure, Gears of War may have sold more, but when you're on the internet, then Sony fans (and therefore, God Of War fans) are probably going to outnumber Gears fans considerably. It makes more sense to suit your language towards the majority people who will be reading your post, not just the majority of people in general. That means on the internet (and especially VGChartz), GOW would more than likely be interpreted as God of War. However, if you're on Xbox.com where there's a great majority of Gears fans, thene GOW would probably mean Gears of War (though it's still weird to not use 'Gears' instead).