^^^ awesome!
StevO, did she whack you in the nuts for asking her that and did you go: "Dooooooooh! Why do I have to be StevO"?
It's not just flex but its snap back characteristic. I like a flex that has a nice snappy <<<boingggg>>> back.
I don't believe one should assume that paddle shaft flex consumes energy. As the shaft bounces back the energy is returned. This should be an added bonus since the energy is returned at a point where the stroke has less power/leverage from the rider.
I assume, like a windsurfer mast, that the more carbon the snappier the return. Then, I guess, there is layups, quality, diameter etc etc as variables.
It's similar to the Bicycle frame flex debate (common dogma being that stiff is faster). Here's a long rant from Keith Bontrager on bicycle frame and crank stiffness and the "Sean Kelly Paradox" [Sean Kelly won sprints on a flex frame]:
www.compint.com/stinkingweasels/BontragerRants/stiffness.htm