newscript.sh will run because the execution bit is set.
How do I know? Because I tried it out.
Let's look at the iterations (1 - 6 INCLUSIVE)
i = 1. 1 % 2 = 1: Will not be executable
i = 2. 2 % 2 = 0: Will be executable
i = 3. 3 % 2 = 1: Will not be executable
i = 4. 4 % 2 = 0: Will be executable
i = 5. 5 % 2 = 1: Will not be executable
i = 6. 6 % 2 = 0: Will be executable
The percent sign is the modulus operator (ie. A % B: Think of it as the remainder of A divided by B)
So at the end if it all, the script will be executable. If you have access to a Linux machine, try it for your self and add some debug statements to trace it.