Neural information theory represents a fundamental method to model dynamic relations in biological systems. However, the notion of information, its representation, its content and how it is processed are the subject of fierce debates. Since the limiting capacity of neuronal links strongly depends on how neurons are hypothesized to work, their operating modes are revisited by analyzing the differences between the results of the communication models published during the past seven decades and those of the recently developed generalization of the classical information theory. It is pointed out that the operating mode of neurons is in resemblance with an appropriate combination of the formerly hypothesized analog and digital working modes; furthermore that not only the notion of neural information and its processing must be reinterpreted. Given that the transmission channel is passive in Shannon's model, the active role of the transfer channels (the axons) may introduce further transmission limits in addition to the limits concluded from the information theory. The time-aware operating model enables us to explain why (depending on the researcher's point of view) the operation can be considered either purely analog or purely digital.
Keywords: information content; information theory; limiting information capacity; neural bandwidth; neural communication; neural information; neuron operating mode.