I believe that the variables are local to the formula nodes themselves.
Therefore, in your first formula node, first is set to 0. In the second, if you don't define an initial value, it is assumed zero. So the first time through, it will get set to the value of chan. But the second time through, it already equals chan in the second formula node (not reset by the first formula node--they are separate variables). Therefore, it will never go to a new value of chan until it is reset to 0.
Mark