I think the whole idea of it is bull*feces*. I can see calling timeout when they first line up, to give the kicker time to think, but to wait until the snap is total crap.
The first coach to think of this sucks donkey *8==>* as do any *bunghole*s who copycat the idea.
You appear to be in the "make illegal" camp.
I was thinking about this today. What happens when during the middle of the game the defense calls timeout just as the ball is snapped? I see it every week. The play starts but the refs come in whistles blowing and the timeout is taken.
Nothing different on the last play of the game except the coach has got his tongue in the linesman's ear to make sure he gets it called.
I think this is bull*feces*, also. If the ball is being snapped, the play goes.
Just my .02.
