I learned a lot about Nitrox by watching a DM fill some tanks and picking her brains about what she was doing. I got a free lesson on analysing and a couple free introductory dives with the same lady. That was enough for me to figure out that it wasn't necessary for the type of recreational diving that I do since I like to do wrecks on each outing which usually go around 120-130 feet in the area that I usually dive and if I understood correctly Nitrox maxes out at 100.
You didn't understand correctly however you may have come to the correct conclusion for your diving.
The MOD for 32% is 111 fsw if you use 28% the MOD is 132 fsw.