Almost all processes -- highly correlated, weakly correlated, or correlated not at
all---exhibit statistical fluctuations. Often physical laws, such as the Second Law of
Thermodynamics, address only typical realizations -- as highlighted by Shannon's asymptotic
equipartition property and as entailed by taking the thermodynamic limit of an infinite
number of degrees of freedom. Indeed, our interpretations of the functioning of macroscopic
thermodynamic cycles are so focused. Using a recently derived Second Law for information
processing, we show that different subsets of fluctuations lead to distinct thermodynamic
functioning in Maxwellian Demons. For example, while typical realizations may operate as an
engine -- converting thermal fluctuations to useful work -- even "nearby" fluctuations
(nontypical, but probable realizations) behave differently, as Landauer erasers --
converting available stored energy to dissipate stored information. One concludes that
ascribing a single, unique functional modality to a thermodynamic system, especially one on
the nanoscale, is at best misleading, likely masking an array of simultaneous, parallel
thermodynamic transformations. This alters how we conceive of cellular processes,
engineering design, and evolutionary adaptation.