By default it will follow the order specified in tmm --serverciphers when you provide it a cipher string. So the order from your output in the original question you posted. You can add @speed or @strength to get it to reorder the ciphers fastest first or strongest first.
Note on the server side as the application server determines what ciphers are available to use and your cipher string just determines what ciphers you will negotiate with the server just like any client would.
Will i be correct to say that, even if connection between end client and F5 is TLS 1.0, F5 will initiate connection at TLS1.2 ( being the highest supported by serverssl settings )
I get the impression you think the two are linked in some way? They are not. The clientside can have strong cipher and the server have weak cipher and vice versa. They are completely independent negotiations.