Thats the way my Bersa Thunder .45 UCM works. When cocked, the safety lever works as a decocker dropping the hammer, when hammer is down, it works as a normal safety lever preventing the trigger from working. Can't carry it cocked and locked. First shot is DAO unless you want to cock the hammer with your thumb first.

At range today, I tried it. Pointed downrange and released the hammer. No problem. I was just nervous about doing that for the first time.

Had me nervous the first time too. I did it un-loaded and then examined it closely and found that there is a hammer block at the bottom of the slide which is part of the safety lever. It comes up with the lever so the hammer never reaches the firing pin. Pretty slick engineering and it also makes the Bersa the "safest" pistol I own.

I believe that a hammer block comes up when the hammer goes down. You might be able to see it. Watch the the firing pin and see if a hammer block comes up as the safety is applied.