I'm not sure which part of what I wrote you think is inaccurate. All of what you wrote matches what I was trying to convey.

For example, my saying "pass to the parent logger" corresponds to the "set current logger to parent" box in the diagram. And by "handled by the parent logger's handlers" I meant "directly offered to any handlers attached to ancestor loggers." And "only the propagate attribute determines whether the event is passed" matches your "until a logger is encountered where propagate is false."