Um guys,
The shine 5 has done this since day one.
It's nothing new.
I've used this trick intentionally to mix things up.
Wave mode and fade mode only keep an "even" or identical color when the RGB values are set identically to the same value.
Nothing was broken by any firmware update.
Basically, you're selecting a color setting that has different values of R, G and B.
The wave mode assumes that all RGB values are identical. Same for fade.
On the color palette selector you are using, only the bottom row (whites) have the exact same values for RGB. All other colors will have different or slightly different levels. Example, FN+Space bar + Tab isn't pure red. There's a very tiny amount of blue and green added (less than "step 1" level)
If the values are different, then one color channel will change to its min/max values faster than the next color channel, which causes all of the colors to start changing. That's actually a nice feature.
If you want the fade and wave modes to remain consistent, use the FN+F5-F7 key combinations and make sure the RGB levels are set to the same value (0-7) in 8 steps by tapping.
If you color cycle by holding down and releasing to try to get 64 steps instead of the regular 8 steps, you will most likely not be able to get all three RGB channels to the exact same value.