I agree with Snaq. Live ball timeouts and coach-requested timeouts don't bother me a bit. On my list of desired changes, these don't even appear.

Fixed it for ya.

Time Outs Will Never Go Back To The Olden Days ...
 

Check this out:

UConn-Syracuse Time Out - Basketballrefs.com

Yep, and we all agree how to handle it, except for one.

Aren't they times-out?

Thought Some Of You Would Disagree With This ???
 

You agree with our little corner of Connecticut interpretation?

This (below) is how our local high school association has decided to handle this (Syracuse-Connecticut time out request) situation. It appears that we are now expected to hear, and/or see, a time out request, make sure that it is the head coach, and then check to make sure that the time out request may be granted. Also, all or our local interpreters will get together in the off season to come up with some statewide guidelines, hopefully with the input of the NFHS, and/or IAABO international. These guidelines will be presented to both officials and coaches, statewide, in the late fall.

Coach Requesting Time-out: The NFHS rule book (Rule 5-8-3) and IAABO mechanics 2-person manual (Page 79) do not provide a level of specificity to guide how we officiate this request. Here is how we should officiate this:

1) The official must see the head coach to confirm he/she is requesting the time-out.

2) The official should not turn away to see a head coach at the expense of not providing coverage. Thus, the official may need to move his/her court coverage to view both the play and team bench. If your back is to coach and you are within a few feet of the standing coach, use common sense. You may not need to turn and view the coach.

3) Upon recognizing a request for a time-out by the head coach, the official must then check to see if a time-out request can be granted (Rule 5-8-3) ball is dead; ball is live and in possession of a thrower-in; player control exists) prior to granting (blowing the whistle) the time-out.