exploring a "500" LED eBay light string (with schematic)

Sometimes I wonder how many of these dangerous strings of lights have been sold via eBay and other grey import sites over the past ten years. This one is different though, as it has a rotary pattern selector (keeps last setting), so well worth exploring.
The main issues with these light strings is that they have poor electrical safety standards. Ultra thin and easily broken wire with no significant strain relief (the listing warns of a risk of breaking just while unrolling them!), loose covers over live connections on the controllers and often horribly under-rated resistors in the strings that can burn up. That seems to be more common with the shorter 100 LED strings. This one wasn't pushing the resistors too hard.
I don't recommend having these lights where kids can play with them (all kids play with fairy lights) and where pets might nibble them inquisitively.
Despite being advertised as suitable for outdoor use, these are NOT waterproof and will wick water between the wires and sleeving, resulting in a shock risk and fast failure due to DC accelerated corrosion.
Note that in this video I did have exposed live electrical connections. As always, work to your own safety level.
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