The cycle active snaps is supposed to cycle through the active snaps, but currently it also affects the current snaps. By cycling snaps (I have set up Tab as a hotkey), the snap settings are overwritten to the snap that is active through the cycling.
Example
If you draw a line and have end, edge/segment and midpoint snaps on, when cycling snaps, the snap settings dialog ends up having only endpoint snap (because that is the snap that is cycled to). This endpoint snap setting is persistent even after exiting the current tool.
Expected behavior
Cycling snaps should be an overhead operation, which occurs in memory, rather than through overriding user input. When a cycled snap is chosen, the snap settings should remain unaffected. This is important, because you cannot change snap settings while another command, such as the line command, is active. In which case, you need to cycle snaps if Max doesn't use the correct snap location.
I've attached a video to show the issue.
