There exists a distinction between agent and patient. The so-called present participle tends to modify agents. The so-called past participle tends to modify patients.
In "a sun-powering machine", "sun-powering" modifies "machine". In this case, the machine is the agent. In the active voice, the machine powers* (one or more) suns.
In "a sun-powered machine", "sun-powered" also modifies "machine". In this case, the machine is the patient. In the active voice, the sun powers the machine. In the passive voice, the machine is powered by the sun.
You can see that the passive voice construction uses the so-called past participle. The usual subject of a passive voice construction is a patient, and the agent (if mentioned at all) is supplied by a prepositional phrase.
Sun-powering machines do not exist in reality, although they might exist in science fiction and fantasy. Sun-powered machines do exist, although they are more commonly called solar-powered machines in my dialect.
In a similar manner, a country that speaks English makes sense, so "an English-speaking country" makes sense. I have no idea what it would mean for English to speak country (or for a country to be spoken by English) so I can make no sense of "an English-spoken country".
Record-breaking or not, "Phelps did a swim" does not sound natural to my ear. Still, the swim breaks the record, so "a record-breaking swim" is perfectly sensible.
"Old-fashioned" is a word in its own right. It is not an example of some general adjective + participle pattern in the language. I find "a newly invented phone" and "a strongly kicking animal" to make more sense. Even here, the present participle modifies its agent, and the past participle modifies its patient -- the animal kicks, but someone else invented the phone.
* Please note, the so-called present participle has nothing to do with the present tense. The sun-powering machine might be a machine that does power the sun, or did power the sun, or will power the sun. Likewise, the past participle has nothing to do with the past tense. The sun-powered machine is exactly that whether it was powered by the sun, or is powered by the sun, or will be powered by the sun.