Registers value under key. Idempotent for the same (key, value)
pair. Registering a DIFFERENT value under an existing key is
swap-is-noop: the first registration stays live and dev mode warns -
unregister the current holder first for a true swap.
Removes the registration for key - but only while value is still
the registered holder. A stale holder unregistering after a successor
has claimed the key leaves the successor untouched.