@genkir, Nope, no repainting at all. If you use it with any alert setting that is not 'Once Per Bar Per Close' you will get an alert exactly when the price reaches your desired stop line.
@genkir, I use this with AutoView, so say you have gone long and want to trail your profits until the price breaks a low, I would typically set an alert to sell using Once Per Bar. It should work the same with Only Once but I just like the fact that if by any chance the alert is missed, it will be sent again if the stop is triggered. 'Only Once', 'Once Per Bar' and 'Once Per Minute' will all give you realtime alerts on the exact moment the stop is triggered though. Ultimately, which one you want depends on your usage.