Many throws to second on a steal are not to the bag -- they result in a "swipe tag". You can see that from B better than you can from C.
If the throw is to the bag, you can move to a spot (almost) directly in line with the throw from either B or C.
And, in B you don't really need to "read" the throw. If it's a poor throw, it will be coming toward you. You need to back up (or at least not move in) so you don't get hit -- putting you in line for the swipe tag. If it's a good throw, you can move in just far enough that you don't get hit, and then turn -- putting you in a good position for the tag at the base.
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