Ok you might go a bit crazy after another Wandering Fumarole question, but your answers have now confused me! Lets say you make a Fumarole 1/4 then switch it to a 4/1. I'm able to let that resolve, then cast Titan's Strength on it to make it a 7/2, correct?
No. Power and toughness switching effects are always applied after all other power and toughness modifying effects have been applied, so Wandering Fumarole will be a 5/4.
The card pictured above is Transmutation from Legends. It was the first card to ever switch a creature’s power and toughness.
As you can see from the circled bit of text, it also specified that effects that modify power modify toughness instead and vice versa.
Up until Sixth Edition was released, every card printed with a power and toughness switching effects had this same additional text, setting a precedent.
Sadly, when Sixth Edition was released, the rules were revamped and all effects now just applied by timestamp, so the additional effect would no longer be applied to effects that occurred after Transmutation-style effects resolved.
Things stayed this way until the layer system was revamped for Ravnica: City of Guilds. At that time, the power and toughness layer got its own set of sub-layers and, thanks to the early cards like Transmutation, it was decided that power and toughness switching effects would again be applied after all other effects. And that’s how it remains to this day.
So, if you ever wonder why an effect works the way it does it’s a good idea to go and look back at the earliest cards that did that effect or something similar. You might just see an additional bit of the effect in the printed text that went on to influence the rules going forward.