If your chameleon can move away from the basking light and still warm up or cool down then gaping from time to time while basking is normal and fine.
In other words, when properly set up a basking light should be providing a true thermal gradient in the cage where it is warmest directly under the light, and then there should be basking opportunities here and there at various distances from the light. So the temp right under the light might be 90 (or warmer), might be 87 a little further away where your cham has another branch, might be 85 a little further away where another branch is located and so on down to room temperature far away from the bulb.
Chameleons are better at thermoregulation than some of you guys are giving them credit for. In a properly set up terrarium, the chameleon has more choices than cook or cold. And in a properly set up terrarium, if he is choosing to cook, he is doing that probably for a reason. For example, lizards have been shown to give themselves fevers to fight infection, or for another example, according to ferguson in his 2004 book on panther chameleons which I was just re-reading last night, in the lab they found that chameleons allowed to warm up to higher temperatures produced more d3 from uvb than chameleons kept at lower temperatures.
Someone said that baby chameleons cannot thermoregulate- this is not true in my experience. I raised lots and lots of baby veileds under identical conditions to adult veileds. In those days these conditions in my care included basking sites of around 100 degrees (and I was not the only one- I'm pretty sure the literature in those days recommended temps like this). The babies did not fry or get skin burns, they thrived and grew with "normal" appearing bone and body type. Keep in mind that they had plenty of other basking site choices, so they were able to choose what temp they wanted to bask at and weren't forced to bask at 100 all the time (but they did use the hottest sites, especially in the morning after the lights came on, or after a misting, or after a meal, most of the day though, when returning to bask they chose the sites further from the light where the temps were not as high).
Now, an improperly set up terrarium might be one with a basking branch close to a basking light and no other basking opportunities nearby so no thermal gradient is available. Especially in a low wattage basking light situation where there might be only warm on the branch near the light or cold everywhere else. In a case like that, if a chameleon is basking and gaping, yes, he might indeed be frying rather than freezing.
But in an enclosure such as I described where the lizard is free to choose- occasional gaping while basking wouldn't bother me at all, unless it is constant gaping while basking which would make me wonder about temps being too cool at other basking sites in the enclosure, or if gaping away from the basking site, I would then think I had things too hot all around (could use body coloring and posture for clues on this one as well) or maybe a respiratory infection.
Also keep in mind that there is more than one way to skin a cat- if lower temps are leading to longer lifespans nowadays, I think that is great. If a low watt bulb is able to meet the basking needs of a lizard, and the lizard isn't sitting all day under the light trying unsuccessfully to warm up like an old man huddled next to a fireplace in the middle of a drafty house in the winter, but active and moving in and out of the basking site and not gaping, then I think that is great too.
I've bred many different basking lizards- gaping occasionally while basking whether they are indoors or out is as "normal" as a dog lying in the sun panting even though shade is available to him. Doesn't make the dog stupid either.