Ok - you are close to explaining it right, but not exactly.
What I would call a "tactical" mode:
- from OFF, press& hold the switch - after a delay, the light goes on turbo and stays in turbo til you release the switch
Normal mode switching has last mode used (memory):
- from OFF, click and the last mode is displayed
- from ON, press&hold will advance to the next mode. Release the switch when that next mode is displayed, because continuing to hold the switch does nothing
A power cycle loses the last remembered mode. From a power cycle, it behaves as if turbo is the last mode used (defaults to turbo). So, total of 4 modes, and from a power cycle, the order works as follows: turbo, low, med, hi.
Blinkies work just like regular mode changing, just on the other switch.
That's how I understand it and that's how mine works. I don't see any cycling or automatically advancing through the modes. Who knows though, maybe they changed it - these things have happened before, for sure. sometimes a few pieces get out before a "fix" is made, or they shipped the first lights with a BETA version. I work for a biomedical manufacturer - it happens...
I don't like the UI, but think I understand it. I don't like these built in delays at all - frustrating... I do like the dedicated switch for blinkies. You can easily avoid them, and can't accidentally invoke them.
My priorities are quick access to lowest mode, quick access to highest, and nice to have a quick access to last level used.
They chose to avoid double clicks. Also I'd have to say they gave full priority to last used mode, because to enter and exit the last used mode, it's quick - immediate action. To me for the tactical mode, there's no reason to have that kind of delay - they could act on the press&hold in maybe 50 to 200 msecs - it would feel much more responsive.