Planning on using these for the first time, and it's been a while since the... RLB Armadageddon...

and wanted to be absolutely 100%, crystal clear:

Placing a set aside squadron does not "use up" a ships squadron value and the squadron it places remains un-activated. The newly placed squadron may be activated using the RLB ships just-revealed squadron dial and it can attack, but cannot move. Alternatively, I could place up to [squadron value] squads, and activate up to [squadron value] different squads.

Correct.

Technically you can activate up to squad value +1 if you have a token.

However, if all you have is a token, “squadron value” in that instance is 1.

The FAQ is worded so you don’t get to dump them all with just a token, and then only activate 1...