I can definitely see your rationale, although oddly the side he chooses to be in is the window/lightest side (but with least water flow) and actually his plummeting behaviour doesn't seem to be affected by bright lights - he can cope with the TV being on - but more so by people getting up from sitting or sudden movements or something being set down on the table the tank is on. He'll very happily "interact" with my face up close to the tank, talking to him. The more I think of it, the more this fits in with your "vibration" theory (although he's fine with music and voices).
For further security, covering the tank with a dark towel might indeed be a plan. I know that the last remaining harlequin in the main tank seems to look across towards Bendy Harley regularly as though keeping an eye on him - whether or not this is the case or not, I can't be certain, but perhaps I could reposition the tank in such a way that the front is covered but they can see one another through the smaller side and he can interact with me through the other smaller side.
Yes, the E topic is not one to be taken lightly - I'm horrified and disgusted at how lightly and readily some people elsewhere seem to consider it, such as early in the stage of disease or if a fish has a disability. My experience is that fish seem to adapt well to disabilities and my goldfish (RIP) had a near-death experience many years ago but made a complete turnaround and went on to live another few years following that (when others would have euthanased). Ultimately, though, his final demise took 20+ hours from seeming complete death (lying afloat on his side on top of the water for 20+ minutes, no gill movement, etc, interspersed with intermittent 'resurrections' of ~10 seconds, recurringly) to definite complete death; terrible to be in his presence during this but likely far more terrible for him to experience.
Even when the trajectory is clear in what irreversible direction it's heading, I definitely wouldn't agree with it - after all, we're all dying from the minute we're born but sometimes the path to that is swifter due to a specific condition. For me, I only use it when it's clear that the fish has only got minutes or under an hour or so to live and thus which prevents any undue lingering/suffering - and that knowledge comes with experience... usually it's rolling around or writhing on the bottom of the tank floor or, in the case of the elderly fish recently, a slow demise with a clear direction over many months culminating in hanging upside down and inability to maintain buoyancy at all from the tank surface (as distinct from a younger fish who might develop acute but treatable symptoms). Others, though, would have "done the deed" well before that point.
Bendy Harley is a good example of where he looked a "write-off" in the main tank (and likely would have died on his last day in there due to all the catapulting) but has gone on to live a peaceful existence in the isolation tank with the occasional episode per day. I have no idea what the future holds - I wouldn't be surprised to find him dead some morning but equally he could be around in 6 months' time. Wee Harley looks in optimum health but, at their advanced age (5 next month), anything could happen.
As for the actual administering of the E solution, I do find it an ordeal every time - distress and tears are always involved when I realise it's the only option, there's a delay while I gather my thoughts and/or provide an update on here (and hope for some form of divine intervention to turn the situation around), but I do it as respectfully as I can by having silence in the room or calm classical music at very low volume, have a "chat" with the fish to explain what's happening and thank them for their contribution to the tank and more-or-less deliver a eulogy of my memories of them, then talk calmly and reassuringly to them about what I'm doing as I administer the solution (although they can no doubt hear the pain and tears in my voice). This may sound bonkers to anyone reading this but it may be helpful to you as to how it can be done with as much dignity and as close to respectfully as possible if you were ever to consider it.