Boyd, you're right. The repellency does depend on the volatility of the chemical. One of the big differences between DEET and pyrethriods, (besides what you mentioned about permethrin being insecticidal AND repellent while DEET is only repellent) is the way they work.
DEET acts to basically cover up the chemical receptors in the bug that it uses to locate you. It makes you chemically invisible to ticks. it is not that ticks find it repulsive, but they don't notice you. If they do find you, they may not recognize you as a host, so you are likely to see ticks walking on you, but they are oblivious that you are the tasty treat they are looking for. This concept makes it a little bit easier to understand why it doesn't work as well as permethrin.
Pyrethoids, on the other hand, ARE repulsive to ticks and most other bugs, but this is also partially reliant on the volatility of the chemical. That's why you need to reapply often. If they do come in contact with it, it will kill them, but unless it's at least a little bit volatile, they won't be repelled. Pyrethroids are great chemicals. The problem is, they've been around for a long, long time and there are a lot of problems with resistance to this class of chemistry. Some species of cattle ticks in the southern US laugh at permethrin. Scary.