Here is how you calculate Critical Power/Speed/Pace/Velocity/etc:
(Assumptions: Time is between 3 and 20 min, both tests are all out within a month of each other (at most), and all variables between tests are different (ie T1 is not equal to T2)
(Abs() just means absolute value, getting a negative doesn't matter, just keep everything positive)
Time Trial 1: Distance (D1) - Time (T1)
Time Trial 2: Distance (D2) - Time (T2)
Abs(D1 - D2) = D3
Abs(T1 - T2) = T3
T3 / D3 = Speed of CV
Example:
TT1: 1 mile - 4:20
TT2: 2 miles - 9:30
Abs(1 - 2) = 1
Abs(4:20 - 9:30) = 5:10
5:10 / 1 = 5:10 per mile is your Critical Velocity
This can also be done in meters, but can be harder to convert to mile pace
Example:
TT1: 1500m - 4:00
TT2: 5000m - 15:00
Abs(1500m - 5000m) = 3500m
Abs(4:00 - 15:00) = 11:00
3500m / 11:00 = 318.2 m/min (or 5.3 m/sec)
To get mile pace:
(x) / CV Speed (if m/min)
Or
(x * 60) / CV Speed (if m/min)
where x = desired distance in meters
(1609) / 318.2 = 303.4 sec/mi
which equals 5:03.4 mile pace
This method is very accurate, but ways to make it even more accurate are:
Keep time trials within one week of each other with equal training load going into them
Make sure effort is steady and all out (good pacing)
Conduct more time trials (I'm too lazy to write the math, but you can look more into it if you want to. The 2 time trial method is good enough, but with more trials, you can predict other race times in addition to CV).
Hope this helps and if anyone wants me to calculate their CV, feel free to ask (and please correct me if you see an error).
*One more note, Tinman's CV calculator is accurate if you either fit a normal endurance curve OR if you use a race between 15 and 45 min, otherwise your natural speed and endurance will affect the results and a two trial method can be much more accurate.