OK, I think I see my misunderstanding now.
I have used "< falling" when I should have used "> falling".
I think my interpretation is more intuitive (I want the condition to hit when parameter is lower than limit at falling edge), but you are the boss!
EDIT: I have tested with "> falling", and it works the way I want it to.
Thank you for your time - and I repeat I am impressed and happy with EasyIoT!