To lag or not to lag

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i've got one for all you rules gurus:

first, i realize that the case book play 5.10.1D says that "one second must be allowed for normal reaction even when a correction is made."

For those of you without your casebook in front of you...this ruling is in context to an official who is looking at the clock and sees it at 5 seconds when he/she blows the whistle, and then the clock ends up being stopped at 4 sec, 3 sec, or time runs out. The ruling states that if it stops on four it's acceptable, but when you correct the error in the other two situations, the clock is set back to 4 seconds (even though you saw it stopped at 5).

with my apologies, for redundancy, to everyone that knows that ruling by heart...here is my question.

let's say you are looking at the clock WHILE you are blowing your whistle to signal a time-out for Team A. The clock shows 0.8 seconds when you signal the time-out, but because of the "lag time" the clock doesn't stop until time runs out. Are you allowed to place the clock back to 0.8 seconds? According to my understanding and reading of the rule, this would not be allowed, BUT that would just not be right. I know it's my job to enforce the rules and not worry about the "fairness" of them.

Can anyone help?

Thanks,

Jake