jQuery: Cycling between multiple classes with random start

I saw an interesting question on StackOverflow on how to cycle between 3 states for list items , but with initial state for each item being potentially different.

This random start position part of the problem was making me think, so I used it as an exercise to try some newish jQuery functions, such as delegate and advanced class selectors.

My solution was basically to build a reduced case of state transition diagram with a cycle.  The advantage of it is that any number of states can be iterated through.  It  could even be a plugin, if need be.

My full test example can be found in the original SO question, probably toward the bottom.