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By default Stamina Mode will disable Wifi and Mobile data when screen is off.
With Advanced usage, we can "keep some apps" active even when the screen is off.
If we were to select, say, Whatsapp or Hangouts messaging as apps ative in standby list, would that mean that the wifi or mobile data will not be switched off even when screen is off during Stamina mode? If so, will it defeat the purpose of having stamina mode to save batt?
Yes, excluding app's will compromise the true power of the stamina mode feature.
You can read more about the stamina mode over at our developer world page.