Good point. It happens for both the maximisation of minimised programs AND the bringing to the front of lower z-ordered maximised programs. It makes no difference... That's the same behaviour you describe, yes, only it brings it to front then brings previous front program back to the front. After only one click...
I'm running Windows Blinds 4.6 and Y'z Shadow as well.
I wondered if it was to do with the delay for the autohide and mouse activation I had set, but altering that makes no difference either. The only (temporary) solution is to set it to 'Normal Z-Ordering' for a few clicks then switch it back to 'Always on bottom'.
Interestingly, whilst writing this post, my 'Always on top' draw style tab has lost itself underneath Firefox... The only way I got it back to the top was by unchecking 'Always on top setting' then rechecking it. I really rate this tool and want to go on using it, so any help is appreciated! Thanks...