I seem to remember having something to do with that answer :). The short answer to your query is that there is no a priori way of deciding based on a random macro whether it's "math mode" or "text mode", since of course a macro could be named anything. It is possible (see this question) to write a test that detects whether a macro enters math mode. Otherwise, the following general guidelines exist:
The most obvious difference between math mode and text mode is font-related: math mode uses special fonts, and even for letters, it uses a slanted font. Correspondingly, in LaTeX many font commands for which there is a difference in behavior have math- and text-mode variants, e.g. \mathbf versus \textbf. This is the exception that proves the rule that you can't tell by the name.
The most obvious similarity between math and text modes is that TeX doesn't make a distinction until the typesetting starts, i.e. until it passes to the "stomach". Thus, plain macro expansion will be the same in both, unless the result contains $, ^, _, or one of the \math font commands (but still, the expansion part of the macro will be unaffected by math mode, except for \ifmmode, of course). There are probably dozens of special cases in addition to these, of course.
Math is full of special symbols and constructions; if you have a "macro" that produces a symbol, then you should be aware of the intent of that symbol. In common practice it is actually math-mode: for example, \alpha is not a Greek letter but is actually the mathematical symbol of that shape. See this question for the corresponding text-mode variants (which actually are not macros).
The problem that concerns you, based on the reference to my other answer, is how to tell whether an innocuous macro that takes some argument, i.e. \mymacro{stuff}, will typeset stuff in math or text mode. There's no way, short of looking up what the author intended. Fortunately, the situation is twofold: either you are the author, in which case you're in luck; or the author was a responsible LaTeX package writer and produced a lovely PDF manual that can be obtained via the texdoc program or, failing that, CTAN. No third alternative exists, naturally.
In one of your comments to the question, you ask how to look up an unknown command. First, you should know which package provides the command; if you are using a "boilerplate" preamble without knowing why the packages are included, you should go to texdoc (or CTAN) and read up on all of them :). If the macro isn't part of any package then it's part of TeX or LaTeX itself, in which case, this site mirrors a document whose name I forget that contains all the basic ones provided by LaTeX. If you are truly unfortunate and some command appears to have no documentation at all on the internet, then it is a TeX primitive and you should read TeX By Topic (available free via texdoc) or the TeXbook (not free, but worth it).