well considering turning only one of them off shouldnt effect that red light being on now id have to aggree thats a huge bug. especially since the helpfile quotes:
91.A single toolbar button is now used for the editor dialog. The
red light is now on when any of ctcp/event/raw are enabled, and
off when they are all disabled. A right-click on the toolbar
button now displays a most recently used files list.
definatly a bug .. no matter if it looks stupid or not .. its not working like it was published in the
versions.txt file