Using "Once" timer events in a Program

Given a program that has an entry node that runs each day, what is the effect of a "Once" timer set to a certain date after the entry?

It will pass through on the date set in the timer, but will it pass through after that date? I would assume no, but it seems it actually does work that way. It's not technically a "Once" timer, more like a "On this date and after" timer.

But maybe I'm seeing things incorrectly.