Today hasn't been a model of clarity, but DeSantis issued an executive order suspending all county/city regs requiring masks effective immediately. I'd link to it, but it's still not online; not even Jerry Demings has seen it as of 5 p.m. The formal law DeSantis signed today--which basically just makes that pronouncement into a statute and includes other things, like a ban on "vaccine passports"--doesn't go into effect until July 1. These were two separate documents with different effective dates. (Apparently--as I said, I still haven't read this E.O. but this is what every news outlet is reporting, and what DeSantis said.)
Not a perfect analogy, but think of tolls. They can be suspended during a hurricane. The State could still legally enforce toll laws but chooses not to until evacuations are done. In this case, the State is choosing not to enforce any local regs requiring masks or social distancing until July 1 when such regs actually become illegal. As practical matter, I see little difference in the policies on the average person. That said, I wouldn't be surprised if theme parks use the July 1 law as a fig leaf to cover rescinding their mask requirements on that day but theoretically they could do sooner--especially if, as you suggest, Orange County simply revokes its orders.