Let , and let . Set and , where is the hard dyadic Taylor projection. We prove that is bounded if and only if is bounded from to . The square of this embedding norm equals the norm of the positive column operator from to . Coordinate tails yield essential-norm estimates and an exact compactness criterion, while Hardy duality gives an equivalent paraproduct formulation. The criterion is quantitatively invariant under admissible analytic dyadic resolutions and defines a resolution-independent Calderón symbol space equal to the Hilbert-range multiplier space. We construct a bounded noncompact dense-frequency symbol outside the known blockwise sufficient class. We also prove an exact Poisson-atomic testing theorem: finite positive Poisson mixtures recover the full norm, but no fixed atom count suffices. Finally, aggregate probability densities give an intrinsic atomic-complexity formula and a finite-bandwidth testing bound.

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