It appears you have renamed the "Click or Move Mouse" Action to "Pop up Gear Menu", since I don't find any KM Action by that name.
I believe your macro requires that the mouse be positioned on the Action's Gear icon prior to executing. My above macro works in a similar fashion, but allows the mouse to be anywhere on the Action that is static, that is not a text or popup field.
Yes. I have been renaming actions more and more frequently, especially when I post. And no, I shouldn't have done that here. These steps were extracted from an existing macro and although I reviewed them it didn't occur to me that the renaming done in the past would cause a problem. Leaving the action renamed assumes too much about the reader's experience, in that it assumes the action is readily recognizable by what it does, in this case a Move or Click Mouse.
Many KM actions provide variations that are not necessarily obvious from their name. Or at least not obvious to me —the answers to several questions I have asked here and by email turned out to be Action X does that.
The names of many actions default to say pretty much what the action says, which isn't terribly useful. So, I have been using action names as a sort of comment. This strategy is particularly appropriate in explaining relatively long action sequences and nested combinations of compound actions such as Group and If-Then-Else.
No, ⌃click on anywhere in an action is the same as clicking the gear.