The Fcv delays the water entering the box based on adjustment, once open flow is normal. Like you've mentioned, it's roll is to keep the box from loading with water at low rpm's when heat created by the engine is lower.....low rpm, low exhaust flow, lower amount of heat.
A second restricter after the Fcv such as a jet or seat limits amount of water to box once the Fcv is open. So the goals you mentioned are handled by different parts.
On my skis when I remove them from the water and dry the exhaust I barley get any water out the tail pipe, I run just the Fcv.... On my old limited my friend now owned, the water flow out the exhaust tube is large, the diameter of the tube, it's a large flow before it clears, he has no Fcv.