The Command Tilde won't work on my MacBook Pro

Steps to reproduce

1. Open Terminal and create multiple windows.
2. Open Google Chrome and create multiple windows.
3. Press command tab followed immediately by command shift tab (i.e., you changed your mind and you want to go back to the application that had the focus after all)
4. Press Command + Tilde.

At this point, switching between windows using Command + Tilde doesn't work.

Now,

1. Press Command + Tab to switch to the other multi-window app.
2. Press Command + Tilde

At this point, switching between windows does work.

In conclusion, you can't switch between windows using Command + Tilde if you use Command + Tab followed immediately by Command + Shift + Tab to start switching away from a multi-window app but then immediately switch back to it.

[Re-Titled by Moderator]