In Hungary it's pretty simple: you're allowed to cross when the green man is visible. That's what that green man is supposed to signalize. That's its purpose. If it's red, you are not allowed to cross, because some other car traffic direction has priority.
Now of course you can cross in practice even if it's red for you, but it's illegal (rarely enforced).
So in the event of a red light for through traffic but a green light for turning traffic you don't want pedestrians crossing the road. That's why it is important to have separate lights indicating when a pedestrian may cross.
For instance, if I'm crossing the road here https://goo.gl/maps/favpGxyKTLk (this is on my daily cycle commute)
there is no way for me to know when there is a green arrow light for vehicles that come from opposite direction and turn left (and therefore come my way).
The buttons requesting green man for pedestrians and cyclists is, btw, known here as "humiliation button" (because it forces cyclists to stop; there is automatic detection for motor vehicles on the driveway, but for pedestrians and cyclists they haven't found a reliable way to do it).
Maybe I should have added a disclaimer: I am not your driving instructor
As the are in affect two different crossing, with a stagger between them. The guidance is to avoid a pedestrian having to wait a whole cycle in the middle or tempted to rush both parts. One cycle wait, breaks down a bit for heavy used crossing. But the cycle time should be lower, if ped flow are up.
In an ideal situation, you could set the order of each part to be tidal - if near for example a station exit.
My main gripe is that the buttons aren't symmetrical with their partner button pairs on the other side of the traffic flow. If I'm approaching the junction and there's someone on the other side of the traffic waiting to cross already, the green man on my side should also activate when the lights change. Means I end up having to do this jaunty quick-step fencing lunge to stab at the button if I see the lights changing, which I usually just miss out on then have to wait to cross.