Let's further clarify:
Forever Rule (Tax Free Clock) applies to earnings, which determines if earnings withdrawals are tax free. Your contributions from 20 years long been satisfied.
Conversion Clock (Penalty-Free Clock) applies to your converted principal. Determines if converted funds can be withdrawn without 10% penalty. It would govern whether the converted funds can be pulled out penalty free, not whether earnings are tax-free. Those are covered by your original Forever Rule that began 20 years ago. This rule exists solely to prevent someone under 59 1/2 from converting funds and immediately withdrawing without a early withdrawal penalty. If someone has already reached 59 1/2 or meets an qualified exception the penalty restriction no longer applies.
Hope this helps.
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