Special Application Switcher option in advanced settings (predefined actions)



Hi, I am wondering what this option does. I cannot seem to notice any difference when it is checked off. Is there another setting I need to change? or perhaps I just dont know the gesture to activate it?

On that same topic:
I have a keyboard shortcut which is Command+\ for application switcher. "On Down" and "Enabled" are both checked off. Basically I just want the same behaviour of Command+Tab for application switching on the right side of my keyboard. This works basically how I want it, except if I hold down the "" key while holding command, it doesnt quickly scroll through my applications. I need to tap it manually, while the regular app switcher with Command+Tab, I can tap Tab to go one by one, or hold it to quickly go through. Wondering if there is any solution to this.

Thanks, Rob