@marqdevx , I'll open a separate issue for this.
As a reminder, I'm not asking for personal help, or being demanding :) , I was given this board to test and give feedback on, pretending that I'm a new user, so I'm doing just that :)
You said "You can switch the 3V3/5V switch, it will not make any damage to the Arduino Board cause it has its own regulator. The only issue is that the Display only works with 5V."
So, the arduino board, even if it has a 3.3V MCU, has a 5V line. Therefore your board receives 5V in both cases, but on the VREF line, receive 3.3V or 5V depending on what arduino you have (the newer/better ones, all being 3.3V).
The issue is that if any sensor sends back 5V on a data line that is a 3.3V only GPIO on the board, that GPIO may get fried (you know this of course, just writing it out to be clear)
Documentation that explains what the switch does, would help. Is there a level shifter that takes 5V output from a device and brings it back down to 3.3V so that it doesn't fry anything (looks like not, I found no chips on the board)?
If some of the sensors need 5V for power, every arduino board has a 5V pin, even if the arduino itself works at 3.3V, so I'm confused as to how the switch would help.
Some devices (you said the OLED) only work with 5V data input? (so a 3.3V high from an arduino 101 will not be able to talk to it?)
Basically a page explaining all this in your documentation would be welcome, I know some about those issues, but I'm not fully clear what the switch does, and what devices won't work at 3.3V and why? (it's typically for 5V devices to also work with 3.3V, even neopixels typically work with 3.3V signals)