This oddly named feature, like its namesake in the world of radios, turns down "the noise" when navigating among a collection of radio buttons. With buttons and checkboxes, the focus can be moved from one control to the next without actually changing the selection. But with radio buttons, the act of changing the focus with the Arrows also changes the selection, and thus is essentially the same as clicking on a button. If each button has an exitcode associated with it, then each time you hit the Arrow key to move to the next radio button, the eventwait will exit. This might be appropriate when, depending on which radio button is selected, you might need to enable/disable some other controls in the dialog. For example in the output dialog above (see parentid), if you select the printer option, then you would want to enable the combo box containing the list of printers, and set the focus on it. But if you selected, say, PDF output, then the printer selection combo box can be disabled, along with the Copies option. The immediate exitcode as you move the focus among the radio buttons allows the program to perform these actions.
But if you do not need to perform any immediate action just because the radio button selection was changed by arrowing through the group, then use the EVW_SQUELCH option, and wait for some more important event to terminate the eventwait, after which you can go back and query the buttons.
To advance the focus out of the current radio button group, without changing the currently selected radio button, use Tab (or Shift+Tab).