No, that's definitely not how it works. (IMG:[
invalid]
style_emoticons/default/heh.gif)
This is how mine is setup (MB 1.2.4.3):
hoverAction: Strongest([Cast('Ragnarok'), Cast('Disintegrate'), Cast('Corruption')]),
hoverShiftAction: Strongest([ToggleHover, Cast('Imperil')]), // single cast of Imperil
Bind(46, Shift, ToggleHover); // Suppr
Bind(46, ToggleHover); // Toggle hoverplay.
This way, I do "shift suppr" as many times as needed to imperil, then "suppr" to activate the normal hovering.