For p >= 17, consider the cyclotomic factor Phi_(p-1)(2). It is greater than p. Every prime q dividing this factor, except possibly q = p, satisfies ord_q(2) = p - 1, hence q = 1 (mod p - 1). Since p occurs only once in M, Phi_(p-1)(2) cannot consist solely of p. Thus some q <> p remains after division by p, and q - 1 is divisible by p - 1. Hence lambda(M/p) = lambda(M).
The cases p = 7,11,13 are checked directly. Thus the equality holds for every non-Wieferich prime p > 5.
This also explains why the known Wieferich primes p = 1093 and 3511 are the natural cases to test separately.
_______Similar question at the end_____________
Are p = 3, 5, 7, 11, 13, 17, 41, and 73 the only exceptions to the identity
lambda((2^((p-1)/2) − (2/p))/p) = lambda(2^((p-1)/2) − (2/p)),
for odd primes p, where (2/p) is the Legendre symbol?