Emulation Mode only allows the brakes to be released or fully applied. I.e. An emergency brake application. It does not allow for graduated applications or releases of the air brake on any item of rollingstock making it entirely unsuitable for anything other than emergency working or shunting. In normal situations, it also restricts any movement to 32km/h.
That is not correct. Emulation mode causes the CCD on each master wagon to respond to changes in brake pipe pressure as would a standard non-ECP triple valve, but the response is not predictable. However it's supposed to permit an ECP train to operate 'emulating' a regular air-brake train only to clear the section, not as a standard operating mode. On ECP trains without the more recent overlay braking configuration, setting up Emulation mode is very time-consuming.
It is correct that Emulation mode is limited to not more than 32 kph. The same applies for Switch mode (operating without an EOT).
All modes will cause CCD-initiated emergency brake applications if the brake pipe pressure changes too rapidly (ie. when the driver dumps the air at the front, or the train breaks away). In Run mode and Switch mode it's possible to have HEU-initiated trainline emergency commands sent from the loco and that will generally propagate via the ECP bus cable faster than the CCD's will detect the rapid reduction of brake pipe pressure, especially on long trains.
It is correct that Emulation mode relies entirely on the CCD battery charge in order for each master wagon to correctly operate in that mode as the train line power is totally cut off.
In Switch mode, train line power will usually come on over a particular speed, and in Run mode it's on all the time. It's 230 V DC hence the very important safety precautions when shunting with or working on ECP trains. The main difference between Run and Switch mode is that Run mode requires an EOT whereas Switch mode does not.