If you asked this in the Rules Questions forum for TO, we could get an official answer on this. :)
As it is, having just looked at TO p.54 & onwards, I think you've found the edge case, as most of the other weather conditions apply additional modifiers to to-hit, PSR etc, all which stack neatly.
And it's especially good as it's not commutative - the order applies, as (grav then atmosphere) comes out as (8 / 0.5) - note it's not times 1.5, it's divided by the gravity & round down, which is 16 not 12, and then minus 2 for trace means 14 (for 14/21 movement); atmo then grav comes in as (8-2) / 0.5, or 12 (therefore 12/18).
If it were my choice, I'd go the more restrictive - atmo then grav, for 12/18. But that's me.
W.