When you right-click on a channel switchbar button and go to Events.., you are presented with a dialog that states "The default display settings for various channel events can be changed here."
As this text refers to the "default", and uses exactly the same text as alt+o -> IRC -> [Events..] for that matter, I have thought for years that this dialog changes the same default (global) settings as found in those mIRC Options. Personally, I think that this text should be slightly changed in order to reflect its channel-specific nature; if only by removing the word "default" from there.
One could argue that the fact that the listboxes in the dialog are filled with "default" as well, should provide a hint here, but still...
