this is what I had in mind.
where to find advanced area:
or under a new BlendMode Edit tab there could be a advance preference lab section.
i would put 5 pre selected Wet blend modes under the misc. category. maybe rename it to Misc. & Alphas.
you could change & add more under the preference lab section. There will always be 5 shown under misc.
these 5 can easily be changed by selecting community recommended presets. and store your own presets.
Pressing the unlock slew could maybe give users ability to use the two column method initially shown in SirPigeons mock concept. (where you have one column that shows Over, wet alpha, dry …)