You can find the first part, with the basic explanations, here.
Now another way to know more details of the saplogon.exe activities. Download at first the Dependency Walker from here. It is a free utility that scans any Windows module and builds a hierarchical tree diagram of all dependent modules. Also you can profile the module to detect dynamic dependencies, child processes, thread activity, and exceptions and child processes can be profiled for their dependencies too.
You can start the profiling with the F7 key. In the monitor you see e.g. the creation of the thread, each call to sapfewse.ocx, msscript.ocx, vbscript.dll etc. etc. etc. The information are very detailed, but you learn a lot of the dependencies between the libraries of the SAP GUI for Windows.
If you want to know and to learn more about the activities and dependencies of the saplogon.exe process, use, beside the Process Monitor, the Dependency Walker. It is very good to understand how a lot of things work.
Hint: If you want to analyze the SAP GUI for Windows via saplogon.exe, you must use the 32-bit version of Dependency Walker on a 32-bit Windows platform. The 32-bit version of Dependency Walker on a 64-bit platform of Windows 7 crashes in my case.