Some RVs (probably a majority) do not charge the batteries with the converter when the battery disconnect switch is in storage mode. This is not universal; sometimes the converter is connected on the battery side of the disconnect switch, which means with it set to storage mode and plugged in the battery will still charge but you will not have any 12V power for the house circuits.
Apparently RJL's has the converter on the load side, which I think is more common, so the battery does not charge but the house circuits are powered by the converter under these conditions.
In general, there's very little reason to use the storage setting on the switch. If plugged in, leave everything connected. If camping, leave it connected. If stored without power for a long time, physically disconnect the negative battery lead so any loads not switched (often things like the LP detector or radio preset memory) don't drain the battery.