That about right?
Light the fuel gas, adjust for a suitable sized starting flame, then
add oxygen or air to get a good usable flame. Then adjust size or
intensity as needed with either or both fuel and oxy.
By the way, turning on the oxy, you then can't light it until you
add fuel gas, which is a crap shoot as to whether you've then got a
usable mix that you can ignite. Too much oxy, and it won't light or
will try to light but "pop" (see below) and go out again. More than
enough, well that's just a variant of your "fuel first" method.
In short, do it wrong, and it basically just won't light, or won't
light as easily. Nothing you'll do in lighting the torch will
actually blow up or damage the torch.
However, when turning it off, if you turn off the fuel first, then
the flame gets sharper and sharper until it goes out, but in going
out (especially with larger torchs and torch tips), you can get a
loud "bang" noise. this is indeed a tiny explosion, but other than
startling you, will do no great harm, unless jumping when being
startled caused something unfortunate to happen. Do this in a
workshop with other people, and you can annoy them. But you will not
have damaged the torch. I'm not sure if the microflame torch will
even produce a large enough flame to get a noticably annoying pop
when extinguished this way. Welding torches, and metal melting
torches, larger soldering torches, yes. Tiny ones, Little torches,
etc,, not so much.