I am not too sure what you mean, is the event not reactivating after the amount of time you specified to deactivate it or are you having problems bringing up the extended options menu for the event entirely?
Open the menu and hit exit, start the app and double tap the event again.
The event doesn't reactivate after the amount of deactivation time specified. Am I supposed to re-activate it by relaunching the app?
Yes. You have the option to manually add them (by name). The app says something about adding them in the order they appear, so be aware if you have >1 custom profiles.