Time?

[oatmealqueen]

Saw this happen in a Fed softball tournament this past weekend.
R1 on 3rd, 1 out. B2 lays down a bunt, and catcher tries to pick R1 off who has taken a lead from 3rd on the bunt. R1 slides, hand first back into 3rd and is called safe by the umpire. R1 requests time and umpire begins to slightly raise hands, stopping at about neck level.
But what he failed to realize was B2 tooling into second.
Time was never verbalized, and no one held up, hesitated or barely noticed the slight raising, then dropping of hands.
Except: one coach on the defensive team who wanted his butt.
Should time have been called? What now?