doc,loaders,module: clarify hook chain execution sequence

doc/api/module.md

@@ -274,8 +274,8 @@ It's possible to call `register` more than once:
 // entrypoint.mjs
 import { register } from 'node:module';
 
-register('./first.mjs', import.meta.url);
-register('./second.mjs', import.meta.url);
+register('./foo.mjs', import.meta.url);
+register('./bar.mjs', import.meta.url);
 await import('./my-app.mjs');
 ```
 
@@ -285,20 +285,23 @@ const { register } = require('node:module');
 const { pathToFileURL } = require('node:url');
 
 const parentURL = pathToFileURL(__filename);
-register('./first.mjs', parentURL);
-register('./second.mjs', parentURL);
+register('./foo.mjs', parentURL);
+register('./bar.mjs', parentURL);
 import('./my-app.mjs');
 ```
 
-In this example, the registered hooks will form chains. If both `first.mjs` and
-`second.mjs` define a `resolve` hook, both will be called, in the order they
-were registered. The same applies to all the other hooks.
+In this example, the registered hooks will form chains. These chains run
+last-in, first out (LIFO). If both `foo.mjs` and `bar.mjs` define a `resolve`
+hook, they will be called like so (note the right-to-left):
+node's default ← `./foo.mjs` ← `./bar.mjs`
+(starting with `./bar.mjs`, then `./foo.mjs`, then the Node.js default).
+The same applies to all the other hooks.
 
 The registered hooks also affect `register` itself. In this example,
-`second.mjs` will be resolved and loaded per the hooks registered by
-`first.mjs`. This allows for things like writing hooks in non-JavaScript
-languages, so long as an earlier registered loader is one that transpiles into
-JavaScript.
+`bar.mjs` will be resolved and loaded via the hooks registered by `foo.mjs`
+(because `foo`'s hooks will have already been added to the chain). This allows
+for things like writing hooks in non-JavaScript languages, so long as
+earlier registered hooks transpile into JavaScript.
 
 The `register` method cannot be called from within the module that defines the
 hooks.
@@ -373,11 +376,11 @@ export async function load(url, context, nextLoad) {
 }
 ```
 
-Hooks are part of a chain, even if that chain consists of only one custom
-(user-provided) hook and the default hook, which is always present. Hook
+Hooks are part of a [chain][], even if that chain consists of only one
+custom (user-provided) hook and the default hook, which is always present. Hook
 functions nest: each one must always return a plain object, and chaining happens
 as a result of each function calling `next<hookName>()`, which is a reference to
-the subsequent loader's hook.
+the subsequent loader's hook (in LIFO order).
 
 A hook that returns a value lacking a required property triggers an exception. A
 hook that returns without calling `next<hookName>()` _and_ without returning
@@ -1060,6 +1063,7 @@ returned object contains the following keys:
 [`register`]: #moduleregisterspecifier-parenturl-options
 [`string`]: https://developer.mozilla.org/en-US/docs/Web/JavaScript/Reference/Global_Objects/String
 [`util.TextDecoder`]: util.md#class-utiltextdecoder
+[chain]: #chaining
 [hooks]: #customization-hooks
 [load hook]: #loadurl-context-nextload
 [module wrapper]: modules.md#the-module-wrapper