Does the efficiency stabilize because we are not going to any pool that is less than 43%? In your simulations can you say how much time the hopper would spend at the PPS pool (or how much time there was spent with no pool being less than 43%)? If the amount of time spent at PPS is a tiny percentage (because of all the available prop pools) then the efficiency would seem to be high but not because you hop away from a pool, but because you are always hopping TO a pool that has low shares.
Sure, I guess this is simply the reason and coincides so far with my observations

. My backup pool nearly never needs to be used, especially in these days where a huge percentage of the whole network hashing power is within proportional pools, and you can hop deepbit.
It doesn't matter if you set the threshold to 0.43 or 1 or infinity (then the backup pool will never be used) with many enough pools. There is nearly always a pool with less than 43%. You need to notice that the efficiency still drops sharply below 43%.