While I'm happy to hear there isn't a penalty (I wasn't really expecting one), the behavior was still very much present. I know I switched modes at approximately 10:30 and at 22:30. While I could understand the current block not being switched, the change actually took 6 blocks each way, equal to about 5 hours on average after I changed the settings. This happened on two different occasions. I have two miners running, both were switched at the same time. I apologize for the wall of numbers.
Expected payouts
25.06 03:28:35 0h 36m 299 2001647 0.00724478 48.5(299/2001647)=0.00724478 (100%)
25.06 02:52:30 0h 29m 235 1636591 0.00696417 48.5(235/1636591)=0.00696417 (100%)
25.06 02:22:47 0h 10m 81 574429 0.00439045 48.5(81/574429)=0.00683897 (64.2%)
25.06 02:12:14 2h 09m 1096 7082333 0.00360891 48.5(1096/7082333)=0.00750544 (48.1%)
25.06 00:03:05 0h 16m 162 905648 0.00423067 48.5(162/905648)=0.00867556 (48.77%)
24.06 23:46:28 0h 46m 390 2496051 0.00378899 48.5(390/2496051)=0.00757797 (50%)
24.06 23:00:25 0h 31m 258 1714441 0.00342298 48.5(258/1714441)=0.00729859 (46.9%)
24.06 22:28:40 0h 18m 165 972916 0.00174475 48.5(165/972916)=0.00822527 (21.21%)
24.06 22:10:34 0h 14m 118 763544 PPS
.... loads of PPS blocks in between here.....
24.06 14:22:50 0h 39m 253 2100701 PPS
24.06 13:43:44 0h 41m 258 2235103 0.00110666 0.00559840 (19.77%)
24.06 13:01:56 1h 13m 632 3941647 0.00377748 48.58%
24.06 11:48:14 0h 32m 271 1742611 0.00364597 48.34%
24.06 11:15:43 0h 32m 312 1729115 0.00426345 48.72%
24.06 10:43:23 0h 16m 154 898982 0.00420809 50.65%
24.06 10:26:38 0h 10m 81 553690 0.00402933 56.79%
24.06 10:16:22 0h 17m 141 916842 0.00745876 100%
24.06 09:59:18 0h 27m 236 1483278 0.00771669 100%