Mark:
Personally, I've never heard of Alembic's two-way vs. three-way setup. I think perhaps you are mis-recalling your conversation with Mica. By dead spot in the center knob, are you perhaps referring to a center detent? Does the knob seem to click in the middle of the rotation? For example, thinking the typical 1-10 potentiometer, (no Spinal Tap 11 here), does the center knob seem to have a very defined resting place at about 5? If so, it is a pan that should choose one pickup at the furthest range (1 or 10), and blend them both in between (both pickups on and equal volume at 5). If there is a detent, but it's not panning between pickups, there may be a problem. As for the typical Alembic electronics, there is usually a volume, a low pass filter, and some type of pickup selector, either rotary (off-neck-bridge-both) or a pan as described above. A Q switch is often added to accentuate the filter's cut off frequency, but your's clearly doesn't have a Q.
Bill, the guitar one