Megalunei: Jesus is the atonement

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I am not fit to challenge any theological thought in this post by the Rev. Jay Watson. But it is an interesting argument, and I would love to hear a challenge to it, particularly from others in the LCMS.
MEGALUNEI : JESUS IS THE ATONEMENT
While at the annual CTS (Concordia Theological Seminary) symposia last month in Fort Wayne, IN. I was privileged to sit in on and observe an interesting and exciting theological debate.  Part of the fun from attending a conference like this comes, not only from the organized lectures and panels, but from the ad hoc discussions and arguments that take place after-hours over cigars, beer, and single-malt.

One of my dear friends, I don’t want to give away his identity without first asking permission (which I’m too lazy to do J ), so...I'll call him Father Hatething, the Bishop of Oychanting, Arkansas, was arguing with two “famous” editors of the Gottesdienst journal (call them "Pernell" and "Johann").  My friend put forth the position that Jesus Christ walking on water at the Sea of Galilee, was the atonement because it was Jesus in His active obedience during His visible life and ministry.  The editors both took violent (i.e. animated and impassioned—not physically threatening J ) exception to this thesis, arguing that the atonement was ONLY the vicarious satisfaction which took place on Calvary when Our Lord was crucified for the sins of the world.

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