Both are open, but it'll still work as the water level prevents gas flowing up the lower opening. It's a recycler, but a boring one that doesn't even try to whirlpool. :c
And yes, the downstem would be stronger if braced, but the lack of brace doesn't affect function, just durability.
We pump smoke or vapour through water for two reasons; to moisten it for comfort (moisture conditioning), and to mix it for smoothness (diffusion). Not a lot of of either happens while the bubbles are traveling up through a water column, because the relative water pressure keeps the bubbles small and offers relatively less surface area to exchange water vapour into each bubble. The magic happens in the "stack", the column of foam and/or froth that forms above the perc. Here the bubbles are expanding (free from the water pressure), and are much larger than they are below the water column, offering much more surface are to exchange gas and thus pick up more water. The lower pressure only further enhances the efficiency of moisture pick-up, as does the presence of tiny droplets as well as bubble films at this point, further enhancing surface-area-to-volume ratio of the liquid in the can, so you can see why this stage is where most water is collected, and most moisture conditioning happens. Also, the bursting and shape-changing action of the bubbles in the stack makes them act as pumps actively squishing their contents around, diffusing the air and vapour droplet mix much more than the much more uniform bubbles rising through the water column below the stack. So again, this is where most of the diffusion happens too. Do not fear the "slosh".
The spacing of the three honeycomb discs affects the total stack height the piece can make, but there'll also be a minimum draw rate that will allow the foam to climb to the highest disc level, and the closer the discs are together, the lower the speed at which you can draw and still get all three discs to fully fire. The further apart they are, the higher the possible total stack that can be formed spanning those discs (thus more potential diffusion/conditioning), but this higher stack will take more flow to maintain, and thus require more effort and a faster draw. Given that vapes tend to be more restrictive than smoking, you probably want closer discs because they'll give you more diffusion at a lower speed and with less effort. It won't stack as high on the clear but vape is much less harsh than smoke anyway so doesn't need a huge amount of conditioning.
Also, you don't need a pre-perc like that little stemline under a honeycomb to get the most out of it. The air void that forms under the disc will accomplish the distribution of air just fine. Not all the holes in a honeycomb will fire at once, even on a clear. The less aerated (or taller) the water column above a honeycomb, the fewer holes that fire as they block up with a combination of water surface tension and back-pressure. Such a pre-perc isn't totally useless; it'll slightly decrease the perceived drag at lower draw speeds (beause it's easier to pull an airier water mix through the small holes), but it'll also reduce the speed you can clear, and make the piece harder to clean, while adding cost and complexity. I have honeycombs with and without little stems under them and the performance is very similar. It's not a "feature" I'd be worried about, whether it was present or not.
I agree it is a boring one, I would luv one that does have an awesome vortex like a Mothership Incycler or any real high end recylers I see by PHOTO-RIDER, his are off the chart!! But I cant afford,and the cheapie one that you helped me with just might be acceptable to me, it looks well built and good size for Solo,not too big,not too small and I enjoy the cntr intake,keeps things sitting securely,no tipping over and maybe a better flava over a standard non recylcer . I see the pendant recylcers and I have no use for them due to my hands being big and arthritic, I think they look awesome but not for me. Btoc has a Hitman funnel knock off but hopefully the other glass merchants we deal with will get them in as well at a better price,that one is going out for 76$$ IIRC ![:\](/i/s/hmm.gif "Hmm :\")
but a wonderful person that will help us decide if this glass is going to help possibly cure our future GAS! 
