It's a 3 way switch, but it's the blade type that PRS started using on the SEs in 2012. This is the switch that I have:Card, I would suggest taking the back plate off and eyeballing the switch to make sure that the two plates in the switch at that position are making solid contact. You'll see what I'm talking about when you eyeball the switch. Might also be a bad solder joint but I think that might be unlikely as the middle works well. In you case, a multimeter to check continuity will go along way.
Edit - Never mind my advice on the switch plates as I did not realize that yours has the 5 way instead of the 3 way toggle. Using a meter will still help though. Get some contact cleaner and give the switch a squirt or two.
It's a 3 way switch, but it's the blade type that PRS started using on the SEs in 2012. This is the switch that I have:
Thanks for the tip, I'll open it up and check it out again. I think you may be on to something. I opened it up once and I was able to resolve the issue by applying pressure onto the side of the switch and flexing it a bit.