You are correct. :)

Yeah, you've got one Parent Style and the rest are Child Styles, right? If that's the case, then why wouldn't the Child Styles appear in the Quick Style Chooser?

Nope, there is only one physical style.

Wow... no kidding? How on Earth does that work?

This isen't in the standard vB is it? :o

Nope... doesn't look like it, lol. :p I'll go out on a limb here and guess that that's not something that'll be released to the general public anytime.

Out of curiosity, wouldn't you be able to do the same thing using Parent and Child Styles? If so, why not do it that way?

There are profile fields which allow the changing of variables throughout the style.

So it's basically just a load of conditionals?

... and plugins.

1. Running multiple styles makes things difficult; especially, on a site that is heavily modified like vb.org. The previous vb.org styles had custom edits on each one ... this made things difficult especially on upgrades.
2. All the custom work that you see on vb.org has been done on a volunteer basis. The system that we are currently implementing should be easy enough for the next set of volunteers.

Everything on vb.org has been completely revamped (frontend, backend, and new server). We can now focus on other things such as new features, yearly contests, customizations, etc, etc. It's going to be an exciting year!

no conditionals are used - just plugins