I THINK what ASA was trying to do was to allow the coach to preserve his right to return the pitcher to the pitching position later in the game by deciding to remove her DURING the conference.
If the coach does NOT do this, and completes the 4th charged conference WITHOUT removing the pitcher, then the EFFECT is to be enforced and the pitcher removed by rule. In this case, she cannot return to pitch later in the game.
Taking the rule literally, however, says that once the EFFECT of the 4th charged conference is invoked and the pitcher is removed, it is by definition no longer a charged conference so there is no EFFECT to invoke. The 4th charged conference goes immediately "poof" right in the middle of enforcing its EFFECT.