It does execute the alias in order, you just didnt read the help file.
/help $dllcall
I draw your attention to....
$dllcall() is multi-threaded so it will not halt the script and will call the specified alias once the call returns.
aka, the alias continues to run while the $dllcall is also running, thus the next line of the alias checks the condition of %blah and finds if $false so echos nothing.
The idea of it being able to call an alias on return (which means it well call an alias when and only when mirc becomes free, so dont do a loop for ever waiting for it) is so you can continue processing your script with the $dllcall result in hand.
