Ok, experiments show that "wins" event which has most late start time.
As feature request I could ask for:
option=com_icagenda&view=events
1) (Already on Road map) "Adding filters (category...) in admin events"
2) having also Category as column (with filter) on Events page
3) having ordering column
MODULE IC CALENDAR
in pop up window events could be sorted by ordering from back end (if event ordering is too complicated, could use category ordering from back end - all category 1 events sorted by starting time, after that category 2 events etc.)
Those are my 2 cents after the first steps in iCagenda