1. When using the /timestamp command the mirc.ini doesn't update. So if I turn the timestamp off by command that above alias for me still returns $true and will continue to do so until I manually save the ini file.
Try this
alias timestampstat window -h @!@ | var %a = $window(@!@).stamp | close -@ @!@ | return %a
2. When typing /timestamp on it turns it on as it should. Same with off. But when I specify a timestamp format /timestamp on [HH:nn:ss] and then typing /timestamp it says it's turned off still.
To set the timestamp format, the command is
/timestamp [color:red]-f <format>[/color]