You are correct about Hibernation. By default, after a model is placed into Hibernation, if Spectrum can successfully poll the device three times consecutively, the model will automatically be taken out of Hibernation. The number of consecutive polls can be changed globally. Reference the Place Devices in Hibernation Mode section of the Spectrum documentation.
If a model is in alarm state and then put into Maintenance Mode or Hibernation, the alarm is still asserted on the model but hidden from the user by default. This is controlled by a User Preference by selecting View -> Preferences from the top level menu.
After taking the model out of Maintenance Mode or Hibernation, if the pre-existing alarm condition still exists, it will be reasserted.
Joe