During post-commit processing, Subversion ensures that the file is as
it should be in the working copy [1], meaning that its contents and
permissions match its properties and lock status. This includes
adjusting (if necessary) line ending style, keyword translation, and
read/write/execute permissions. In other words, this may alter not
only the file's permissions, but also its contents.
You can see other examples of this post-commit processing in action.
For example, create a test repository, add and commit a text file with
CRLF line endings. Then, add a svn:eol-style property of "LF" to the
file and commit again. Then, without running 'svn update' or any other
commands that might make changes, check the contents of the file and
you'll see that its line endings have changed to LF.
Hope this helps!
[1] See install_committed_file() in libsvn_wc/workqueue.c.
Cheers,
Nathan