in other words vs very well

in other words

• used to introduce an explanation, simplification, or clarification 

• Stated or interpreted another way; Used to introduce an explanation, simplification, or clarification. 

very well

• Used other than figuratively or idiomatically: see very, well. 

• Used to weaken the effect of certain modal verbs. 

• Used other than figuratively or idiomatically: see very, well. 

• A standard response by a superior to a report or confirmation. 

• Indicating acceptance, often with resignation or acquiescence, of a statement or situation.