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In theory, one should never use OnUpdate when an event is available.
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Yes, in theory. But keep 2 things in mind:
1 - There are times when it's actually more efficient to use OnUpdate. For example in my WarTools addon the Cyrodiil events actually fire too fast and I need the same data regardless of the event that fires. So... I just parse OnUpdate with a 3 second buffer and it actually results in the process running less often.
2 - The Toolbar we've both used as an example I inherited. Some of which will be rewritten in the future but the updates that are occurring there are so tiny it's not very high priority.