Ok, I understand the position of people that tell us to go with the wording of the card and don't try to make personnal interpretation. I'll go this way, I will try to look at the wording and tell me if I'm going in the wrong way.
'' Before deploying fleet' '---The timing is at the start of the game before the deployement.
'' You may set aside a number of friendly squadrons up to your squadron value ''---It's not a obligation but if you decided, you can put the same amount of squadrons aside as your squadron value of that ship equiped with RLB.
'' Next to your ship card ''---Aside of the ship card equiped with RLB. So not aside of any other ship. It is not write that you can or cannot swap them whit other ship that have RLB. They are considered as out of play until there's a action saying that you can place them on the play mat (a squadron activation).
'' For each squadron you would activate whit this command ''---The command in reference there is a squadron command, it can be a dial (who give you the full amount of your ship squadron value) or a token (who give you a single activation).
'' You may instead place 1 of your set-aside squadrons ''---You have the choice to activate squadrons as usual that surround your ship or place one of those squadrons set aside to your ship card a the start of the game.
'' Within distance 1 ''---All around your ship within the distance 1 as you wish.
'' It cannot move this activation ''---So this is considered as an activation but your squadrons place this way cannot move as normal. So they can do the last thing they can when they are activated by a squadron command... fire at ennemy at their range.
For now, I'll go with my comprenhension of this : You are not in the obligation to drop in one shot all your squadron set-aside, as long that you respect the fact that you have to wait for an activation to place them. So if the tactical situation is not well for a full deployement of your squadron set-aside, you can select the squadron near your ship card that you want to place (activated). They can shoot after their deployement but cannot move. You are not able to swap your squadrons between ship equiped with RLB (do not respect logic or theme).
For what happen when your ship is destroyed with all is squadron set-aside that ship card? There is nothing that state what we are supposed to do. Once again, if we go by logic, they should be considered as destroyed (like the ship that they are inside). If you go by what the rules say... there is nothing about this situation. So if there is no written rules, maybe we should choose to do at least something that seems logic. That only my point of view and the way I will play this modification until there is something statued by FFG. If I'm wrong (and this could be true), I will adapte myself to the new way to use this mod, but until then