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As per summary, the IMAP for \iota is missing. I am attaching a patch which fixes this (some time ago I tried submitting it to the mailing list as suggested on the vim-latex website, to no avail).
Patch to add \iota IMAP to ftplugin/latex-suite/main.vim
applied with proper whitespace in 40be6efa1547c48764aa69e4e4a216d438f14688