The wonderful thing about our magic is that the entirely irrational bosh is proved by the entirely rational action to create the miracle of one only thing: a simultaneity of opposites that is both entirely irrational and entirely rational simultaneously. As it is above so it is below. The wonderful thing about the human brain is that the right hemisphere is entirely irrational and the left hemisphere is entirely rational. The right hemisphere pays attention to the bosh and the left hemisphere pays attention to the action. By inference, then, there are two kinds of misdirection: one kind is cloaked by bosh and the other is cloaked by action. There might be a misdirection of a third kind, cloaked by the simultaneity of opposites, at the climax, when the crowd are in a dilemma. One might use that to set up one's next trick perhaps. There might be nothing new about all that but it might also be something only the adults know.

You might explore recent discoveries in the field of neuroscience about perceptions and how messages get to the higher-order brain functions you describe here.

These hemispheres can only "pay attention" to information that gets to them. Other brain functions filter, sort and bias what gets to these hemispheres at all.
For example, the orbital cortex can be conditioned/tricked into routing sensory information into a sub-routine that can be an ultimate "misdirection" away from higher-order functions.
The mind can be "Perceptually Blind" to actions or objects that do not match an expected pattern, color, shape or sound.
Alternately, the psychological ploy called "Predictive Vision" causes the mind to "see" things that never occurred in order to justify an expected result.

So, your suggestion may be valid, but does not limit misdirection to any such "inference" of number or significance.

Good thoughts, just not complete ...

It seems to me the bosh naturally appeals to the relatively subconscious part of the mind, which one is not fully aware of but which influences one's imagination and the like. While the action appeals to the conscious critical faculty we rationally use to interpret how the world works. The thing is I do not recall at the moment any examples of the climax of an effect being used as a cloak, for want of a better word.

Perhaps I am thinking of card magic only. I think I have seen it done with a cups and balls routine.

Yes, an audience can be guided to a false expectation or made perceptually blind by story, gestures and patterns of actions not directly related to the observed actions -
but, I am not sure these are "misdirection." I use such techniques all the time fro what is sometimes called "cognitive ease" - you make the brain lazy so that it falls
back to previous results or expected ones "without thinking." "Cloak" works for me.

A example from C&B might be the placing of the wand under your arm between every action. Then there is no distinction between when a sleight occurs or not.

This can work in reverse too. In one lInking Ring Routine I have a spectator hold a Charm and tough the rings before each link or unlink action (cause of the magic).
In a later phase I attempt to link three rings "forgetting" to hold them out to be touched by the Charm. The wind up in a mess.
Someone always blurts out without thinking, "You forgot the Charm, so of course there is no magic." They have served as a witness to "must be magic".
A touch of the Charm and the rings correct themselves - with a thankful nod to the unwitting helper.

What happens in the minds of the other spectators is unknown except for the non-verbal cues of smiles and knowing glances.
My guess - the witness has relieved them of making a decision for themselves. They are now prepared to expect more magic with less suspicion.
Just my style and experience - not recommending it for everyone.

“Cardini covers up every steal with a carefully designed, natural gesture. The monocle drops from his eye as he registers bewilderment; in that moment a steal has been made. A laugh comes when he blows smoke through a monocle he has been wearing, without a glass: another crucial move has occurred.” Those are examples of moves being cloaked by bosh, that which isn’t rationally questioned.

An example of a move being cloaked by rationally questioned action can be seen in The Exclusive Coterie by S. W. Erdnase. Let us make sure these are the four Queens.

Putting the wand under the arm and the like would be part of the bosh in my view.