Last night I found out the on/off feature works in reverse as well.
The TV was already on and I was going to switch over from HDMI-2/My cable box to HDMI-1/My Xbox, I noticed that HDMI-3 was still labeled PS3 (I thought it just did that when the PS3 was on) so I tabbed over to it, switched it and low & behold it turned the PS3 on, Cool.
The TV was already on and I was going to switch over from HDMI-2/My cable box to HDMI-1/My Xbox, I noticed that HDMI-3 was still labeled PS3 (I thought it just did that when the PS3 was on) so I tabbed over to it, switched it and low & behold it turned the PS3 on, Cool.