I remember having that divide problem once also, but I forgot when ... I don't divide many 'real's though, but recently I did this:
ARCZ => integer( ( real(PI_TIMES_TWO) * ARCTAN( 2.0 ** (-(i))) / MATH_2_PI)) ,
This is in Quartus II 11.1sp1.
I tried your code
variable RecipFactor : real := ROUND((2.0**15)*(1.0/(SQRT(3.0))));
and got no other warning than:
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Warning (10542): VHDL Variable Declaration warning at math_real.vhd(2373): used initial value expression for variable "RECIPROCAL" because variable was never assigned a value
--- Quote End ---
but that is a long time annoyance ...