The difference in your Collins FMS between the "SBAS" and the "SBAS PA Mode" appears to be, in the "SBAS" mode, the absence of SBAS-aided positioning. When in the SBAS PA mode all WAAS corrections (fast, long term, and ionospheric) are available.
The National Satellite Test Bed defines the "PA Approach Navigation Mode," with respect to WAAS as:

(highlighting and emphasis are mine)
Here is a Multidisciplinary Digital Publishing Institute (MDPI) article (Abstract) discussing
SBAS-Aided GPS Positioning with an Extended Ionosphere Map at the Boundaries of WAAS Service Area . In this Abstract, in section 2.1 you can note that the distinction between "PA Mode" and "NPA Mode" is the absence of ionospheric corrections:

(Highlighting and emphasis is mine)
The third paragraph, last 3 sentences of section 2.1 in the Abstract noted and linked above state:
If neither PA or NPA is available, GPS-only positioning is enabled. At the boundary of the SBAS service area, only a part of the satellites has the full corrections. In general, the orbit/clock corrections are available but the ionosphere correction is not available at the boundary.
This is why I believe that if only "SBAS" is displayed, SBAS-aided positioning is not available.
(emphasis is mine)