When in non-standard mode (drop tunings/capo mode) does the PolyTune display the string notes as if they were in standard tuning (E, A, D, G, B, E) or rather the actual notes that the strings produce?
It is in fact the latter: the PolyTune will only display the name of actual note that a string produces in a given tuning. Therefore if using Eb mode, the strings will be displayed as Eb, Ab, Db, Gb, Bb, Eb and not as standard tuning notes, as listed above.
We felt that this was the more convenient option for most musicians in our opinion. However, it is not unthinkable that a potential future firmware update or even a future product could make both options available one day.