Active "When when target value met" only responds to 1/8th values.

[NickAllott]

I noticed that "when target value met" only responds 1/8th equals such as y == 0, y == 0.125, y == 0.25 etc.
So this couldn't be used with all other "bank selected" parameter settings in another ReaLearn Instance.

It's not an issue for me currently.

[helgoboss]

I haven't built in such a limitation. The effect you see is probably related to comparing floating point numbers, which is notoriously difficult/inaccurate. You need to account for this inaccuracy by using < or > instead of ==. In other words, your expression needs to be more tolerant.

[NickAllott]

Interesting. Can logical operators be used to limit the range from both sides? When I tried "y > 0 and y < 0.5" it stayed active for the entire range (with and without brackets).