The evaluation process can be tricky and is best studied with Trace.
In[2]:= Or[Sequence@@{False,True}]//Trace
Out[2]= {Or[Sequence@@{False,True}],{Sequence@@{False,True},HoldForm[False,True]},HoldForm[False,True]}
In[5]:= Or[False,Sequence@@{False,True}]//Trace
Out[5]= {False||Sequence@@{False,True},{Sequence@@{False,True},HoldForm[False,True]},Or[Sequence[False,True]],False||True,True}