Kevin Smith (2013-04-10T14:25:37.000Z)
> There seems to be some confusion here, because we've chosen the second
> alternative.  Can you point to where you got the other impression?
>

http://wiki.ecmascript.org/doku.php?id=harmony:modules, under the section
titled "Run-time execution":

> Each externally-required module is executed the first time a module
binding requires it.

{ Kevin }
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github at esdiscuss.org (2013-07-12T02:26:56.706Z)
> There seems to be some confusion here, because we've chosen the second
> alternative.  Can you point to where you got the other impression?

http://wiki.ecmascript.org/doku.php?id=harmony:modules, under the section titled "Run-time execution":

> Each externally-required module is executed the first time a module binding requires it.

which describes the execution order.