Except CHANMODES= is not an official standard. That means, not all servers use it. As a result, this will cause mIRC to deem modes that are valid as being invalid.
Yes, so mIRC would have to check if the server sends CHANMODES in the first place, and then decide whether to use it or not.
Hmm, what about mode list in 004 numeric? I have yet to see a server that doesn't send it. Of course it doesn't provide as much information as CHANMODES, like mode types, parameters etc.