The Lausanne ITT is on an unusual route. I have done that route before. It goes down some straight descent, then twists around down to the Olympic center. Then some flat across past Ouchy, back around, up rue de Ouchy which is straight and about 8% average. The kicker is la rue de Petit-Chene, which is narrow, damn steep, and cobbled to boot. From there it's twisting up and around until rue de Valentin, and then back up to the stadium. The rue de Petit-Chene climb would not be out of place in Gent-Wevelgem.
The town of Lausanne is built literally against a cliff, so there's a lot of elevation changes. To make it more interesting, the middle of the city is cut by an old river called the river Flon. So the route is really, really unusual for an ITT. It is really easy to lose time in this ITT. I would say that Valverde didn't do so hot, but until I get a more accurate point-by-point comparison of his performance at different checkmarks, it's hard to judge. I would even say that this route is more suited to Prologue specialists with decent climbing skills.
