Sorry maybe my grammer wasn't upto it, there is only one function of hide show, that is to hide or show. However it seems that the active level of the product structure can cause the hidden element to become difficult to access depending on what level it was "hide/show" 'ed at
If you have, say, a top level assy active and open a lower level tree structure to no show a certain element the effect is different than if you had the CATPart as the active model, I have noticed that sometimes the effect can be to hide the whole model, sometimes it will hide just the selected element, again it seems to depend on the active level in the tree.
The Active level also affects the restoration of elements from Hide. If you hid an element in its Part, it may not be possible to restore it when the assy is active, instead the whole CatPart may swap to hide instead of showing the required element.
Note when I say Elements I mean items within a catpart and not the whole part, eg sketches, individual 3D wireframe elements, etc.
Gary