It is though. The fade starts on creation of the object without any fade in time. It's waiting for 5 seconds (fuel max) then fades out over 1 second. If the wait time was the same as initial settings in the editor what you would see is the object being created, waiting 1 second then fading out over 1 second. Maybe you are assuming the wait time is the time it takes to fade out, that isn't the case. Wait time is the time it waits before starting to fade out. Fade out time is the time it takes to perform fade out.