Back in the day.. many moons ago.. one could not end flight while suspended under the canopy of deliverance.. one must ride it to the ground to exit flight, so 'towering out' from the chute wasn't even an option. I got pretty good about figuring how close to the ground to free fall before hitting the 'O' without splatting. Hmm.. or, maybe if you towered out it counted as an immediate death, not a bail or capture.. This rule may have been established during that time.
I recall at least one time when somebody pulled the chord at 20k or so.. took them forever to land.. 
Also, the CM team didn't like to change rules.. and, it appears that is still the case. And, really, there isn't a need to change them.
My additional $.02, anyway..
How did "I" come up with that one you ask. I didn't, it's in the thread.....it has been specifically stated...floating in a chute is OK. Sitting on the GROUND absorbing ACK is NOT. Drawing ACK in the AIR must be allowed because of the CM's desire to keep a very vague rule.....and applying simple logic. If I am in the AIR...I can do no wrong. Wrong can only be done on the GROUND. You cannot punish someone for floating over ack...you have no rule against it. When you say things like "Spirit of the rule" now you have just said...whatever rules I decide to have at the time. There is no "spirit" with rules...it is written...or it is not. If you wish to punish someone, you need to write a rule. Your rule is for GROUND only then as long as I never touch the ground....I can draw as much ack as will shoot at me. Given the reduced ack settings....I could float for quite a while.
I merely applied the rules and conditions stated in this thread in response to the question about floating in chutes. If someone said: The rules state: You have 30 seconds to .ef after a bailout. This would have been over in one post.
Now, if you still feel you can punish someone for breaking an "unwritten" rule, that is another issue. My final $.05
It does not say explicitly. The rule is there to ensure no "Forward Observer Scouts" or ".45 bandits" run around the FSO frame calling in strikes on targets and doing a lot of nonsense. I don't mind if you float down but once ground contact is made its to the tower. Most pilots just tower right away.
Just follow the spirit of the rule.
There is no FSO rule against killing chutes. If you want to risk being strafed in your chute take the scenic route I guess <shrug> but don't complain that you got strafed. I think that's fair.
...so float at your own risk
All that said...this:
Is absolutely against the rules as stated above.
