Simple script timed by current loop length doesn't work

I'm trying to write what should be a very simple script..

Every time Track1 cycles through its loop, I want to set the output for various tracks...

Here's a simplified version of what I'm trying to do...
---
!Autoload
!name IN-OUT_FRM#1.mos

track1
wait loop

for 1
set output 20
for 2
set output 125

wait loop

for 1
set output 125
for 2
set output 20

wait loop

for 1
set output 20
for 2
set output 125
----
However, no matter how I set the quantize settings, the output commands are implemented at some interval other than the timing of track1's loop...I wrote a much longer script set similar to this and as the script progressed the timing of the output commands became longer and longer apart... for example I was setting the commands to happen every 4 iterations of a 2-bar loop (viz every 8 bars)... the first set of "wait loops" it worked fine, but the next set with the same number of "wait loops" instead of it being 8 bars, it took much longer and the third set took even longer (up to 26 bars!?)...

What is it that I don't understand about using "wait loop" as a timing mechanism for other commands?