I see that you mention "hold to convert into IA step". It won't convert the button to an IA step, the button will always turn the delay on or off when you press it. You have to hold the button each time to move to the next step.
The way it's configured now, it will do nothing on the first step. When you hold it once, it will send the first set of messages, when you hold it again it will send the second set of messages. Holding it again will bring you back to the first step which is empty (no messages will be sent).