My understanding of this rule...
Coach's perspective: Runner at 3rd. BR is walked and proceeds past 1st toward 2nd and stops. Purpose? To draw a play by the defense on the BR/R1 so that R3 can score prior to an out being made on R1 between 1st and 2nd. Run counts!
Umpire's perspective: It is a live ball situation. Pitcher must control ball within the circle (one foot on or inside the circle). R1 is allowed to round 1st and stop but then must
immediately either proceed to 2nd or return to 1st. Stopping at any position between the bases is okay. Unless the pitcher makes a play, the runner cannot change directions or stop again. Once the pitcher initiates a play (raises the arm to throw or makes some kind of a feint) then regular base running rules are in effect and runner can stop or change directions as needed to avoid the tag-out. The runner is not allowed to stand off the base waiting for the pitcher to make a play or to change directions back and forth towards 1st and then 2nd.
If runner does not immediately choose a direction and proceed, they can and should be called out.
From FED rulebook 8-7-1: When a runner is legitimately off a base after a pitch or as a result of a batter touching first base, and while the pitcher has possession of the ball within the 16-foot pitching circle, the runner may stop once, but then must immediately return to the base or attempt to advance to the next base.
The fact the the FED rules include an exception 'somewhat' reinforces this philosophy that a runner cannot taunt, or attempt to draw/attract a play... for once a play is made, the runner is no longer in jeopardy of the umpire declaring them out for being off base:
EXCEPTION: The runner will not be declared out if a play is made on another runner, (a fake throw is considered a play), the pitcher no longer has possession of the ball within the 16-foot circle, or the pitcher releases the ball on a pitch to the batter.
8-7-2 incorporates a similar philosophy. Unless there is a play made, (ART 2.) "Once the runner stops at a base for any reason, she will be declared out if she leaves the base." (e.g. BR reaches 1st and stops; play is made at 3rd; R1 may leave 1st and attempt to advance to 2nd but should not be allowed to stop at 1st, and then step off to attract a throw and thereby allow R3 to score.)
My
immediate is a very short time - anything more than a momentary hesitation is rewarded with an out call. I generally don't wait for the defense to see what is going to happen and then make a defensive response. I ring the out.