I believe I can answer this, and it's a little tricky. Obviously, I don't think Gottfried is declaring that Kneser's solution to tetration is incorrect; and I don't believe one can show this from what Gottfried has stated. The trick; Gottfried has ignored a very important discussion of domains.
To elaborate I'll start with the simple case of $b = \sqrt{2}$ and the function $\phi(\xi) = b^{\xi}$. And then I'll extrapolate this to the case of Kneser's tetration when $b=e$.
To begin, let's focus on the fixed point $2$ in which $\phi(2) = 2$ and $0 < \phi'(2) = log(2) < 1$. Then there is an immediate basin of attraction $\mathcal{A}_0$ about $2$, which is connected, in which,
$\lim_{n\to\infty} \phi^{\circ n}(\xi) = 2$
If we take a neighborhood about $2$; we have a Schroder function which is injective on the neighborhood, in which,
$ \Psi( \phi(\xi)) = \log(2) \Psi(\xi)$
And we can construct a fractional iteration,
$\phi^{\circ z}(\xi) = \Psi^{-1} (\log(2)^z \Psi(\xi))$
This fractional iteration can be extended to at least a function,
$\phi^{\circ z}(\xi) : \mathbb{C}_{\Re(z) > 0} \times \mathcal{A}_0 \to \mathcal{A}_0$
Which satisfies the group law Gottfried mentioned. Now, particular to this case, is that $\mathcal{A}_0$ has no periodic points within it. This is by first principle, it's the immediate basin. So trying to do what Gottfried suggests, is in fact impossible.
So, what does this tell us about $e$? It's actually pretty obvious,
$ exp^{\circ z}(\xi)$ cannot be holomorphic in $\xi$ about any periodic point. This will actually arise as a type of branching error. To justify this, we'll stick to Kneser's Tetration, and Kneser's superlogarithm.
So the function $\text{tet}_K(z) : \mathbb{C}/(-\infty,-2] \to \mathbb{C}$ and satisfies,
$ \text{tet}_K(0) = 1$
$\text{tet}_K(z+1) = e^{\text{tet}_K(z)}$
And the function,
$\text{slog}(1) = 0$
$\text{slog}(e^z) = \text{slog}(z) +1$
Kneser's tetration is bijective from $(-2,\infty) \to \mathbb{R}$, so let's choose that super-logarithm. Then in a neighborhood of the real line, it's holomorphic. Call a neighborhood $\mathcal{N} = \{z \in \mathbb{C}\,|\, |z -1| < \delta\}$ for an appropriately small $\delta>0$.
Then, by the functional equation $\text{slog}$ exhibits, this can be extended to the domain,
$\mathcal{S} = \bigcup_{n=0}^\infty \exp^{\circ n}(\mathcal{N})$
By properties of the exponential, it's well known (see Milnor's Dynamics in One complex variable, for instance) that,
$\overline{\mathcal{S}} = \mathbb{C}$
But, the only points not in $\mathcal{S}$, yes you guessed it, are the points of normality, which are all the periodic points. So Gottfried's suggested function,
$\exp^{\circ z}(\xi) = \text{tet}_K(z+\text{slog}(\xi))$
IS not holomorphic at these points of periodicity; at least, no one's proved that. In fact, you can prove that they can't be; which, we might as well do for completeness.
Assume that,
$\text{slog}(p_1) = A$
When then,
$\text{slog}(p_1) = A+3$
too...
This can't work. All in all, Tetration is safe, and Kneser is still correct. We just have to pay very close attention when we talk about iterating. Very close.
Hope this answers the question, Gottfried.