Hi,
I think someone else already suggested something along the same lines, but I'll post my thoughts and ideas around this.
Basically, most of the times it's frustrating to have to re-select the instrument you're playing after having for instance changed the scale, key, drums, ... However, I can see it being useful being able to change directly afterwards. What I would suggest is that double-tapping the main mode key after having made any changes you want in the mode configurations, will simply jump out of it and resume playing the previously selected instrument.
This should still allow all the flexibility of you can currently do in the mode status, and not require additional thinking just to resume playing.
What do you think,
Geert