It's an event that is activated as soon as the event request is sent. It's always on. The only beforehand activation is making the event. This is useful in cases where you need bricktext/something else event related every time you load something.
forget, let me give you a better example than that.
Okay, so say you want some bricktext as a message for everyone that goes on your server.
So, you event it to show the bricktext when the brick is activated.
But, you don't want to activate it every time you load the bricks because you are lazy/forgetful (like me) so you just want it to automatically do it whenever the brick is loaded.