So you mean every other functions works the same as default "Smart Mode" except files found clean by 57 engines are automatically allowed?
That seems to be the case
"automatically allow and whitelist any file that is determined to be clean by the 57 engine"
As for your question if it works the same as smart mode. You can try enabling scan and allow, and see whether it toggles ON and OFF while using a browser.
But based on what I read, it seems like a better mode than training mode. With training mode you have the risk of whitelisting something you don't want. This one at least blocks anything it deems malicious or suspicious.
If you want a better answer, you can try contacting Dan(Voodooshield developer) on Wilders. He is very active there.