Type /timer 0 2 say hi into any channel, let it say 'hi' a couple of times, and then switch to another channel. Since you've used the /say command without giving any #channel parameter you'd expect it to continue to /say in the active window, but it doesn't.
Not only does it continue to say it in the channel in which the timer was set, it also flashes the switchbar channel button in the Display -> Message colour, when it's you sending the message.
If you type /timer 0 2 msg #channel hi it works as normal, but also displays the tab in the Display -> Event colour, as normal.
*shrug*