WOJ says that powerful beings only send a whisper of their power through to the mortal world so that they don't damage it. We see from Mab that her continued presence makes winter stick around longer, and that Ferro isn't in his true form because it would crack the earth.
Vadderungs place of power was in the mortal world, aka Midguard, but myth puts his place of power as Valhalla in Asgard (ie part of the Never Never). So if Odin is truely powerful to challenge Mab, and we know that the Erlking leading the Wyld Hunt with a few Denarians haven't got a chance in hell against her, than he can't be on earth at full power or he would be impacting the world in a discernable way. Remember that even Shagnasty disrupted the world enough for Harry to sense it and Odin should be vastly more powerful than it.
Beings like the Mothers or the Archangels sure, that's why the former don't make a habit of wandering earth, and the latter have rules governing their strength to keep the earth 'whole'. Shagnasty disrupted the immediate area around him ON Demonreach, which is an island designed to lock him up. The disruption was it sensing a powerful, evil force. Odin may not be at the very apex of his strength in say Mac's pub, neither would Mab. But they could still swat down Shaggy in a heartbeat from their barstools.
Personally I do not see Odin as a pound for pound challenge to Mab, not as he is anymore. His strength is cunning, resourcefulness and an information network second to pretty much none. Does he still come as an incredibly formidable challenge absolutely, could he give her a rub for a bit, sure I wouldn't count the All-Father out. But in true raw power terms, probably not.