That makes sense to me given what Dan said last week (and it was news to both Eric and me at the time) that the Variable Gain Amp is not in use when the transponder is off, and the transponder is turned off in safe mode. (Note that the telemetry continues to say that the transponder is 'enabled'--that only means it is set to come on when it is out of safe mode).
As I may have said, unfortunately, the bit in the health panel that says "in safe mode" does not work, so you can not tell that way. You can tell from the big Mode indication in the upper left if the display is not in live mode, but you cannot graph that. So you may have hit on a method looking at VGA. You can also look through the table in FoxTelem (but not in live mode) to see if VGA and safe mode correlate.
73,
Burns Fisher, WB1FJ
AMSAT(R) Flight Software