That is a pretty confusing book and his definitions of efficiency etc. are quite idiosyncratic. If you're not forced to use it, maybe find another. Things like:
Diodes are extensively used in rectifiers.
He considers an ideal rectifier as a kind of a magic box that would convert AC into smooth DC while acting as a resistive load at the input.
This stuff may well be self-consistent, and it gets some useful results, but the terminology is strange and probably won't match up with other references.
Anyway, in answer to your question...
I believe both equations are true, but are referring to different things. In the case of considering the entire center-tapped transformer winding the RMS current of each half is 0.707 of the total (since each delivers half the power and power is proportional to current squared) . Therefore we have \$(0.707)^2\cdot V_M/R\$ = 0.5Vm/R. This is important when we are looking at the transformer utilization.
Figure from the book: