Well, a hardware-switched-to-PAL-after-boot NTSC machine doesn't behave any differently than a software-switched-to NTSC-after-boot PAL machine.
(Yes, it does: the wall clock runs fast on the latter A500 - that's why big box machines use the PSU's tick for the CIA timer.)
You can happily throw the switch dozens of times while the machine is running without any problems.