As best as I can tell, the 'bouncy' method (aka 'hacksaw', 'zig-zag') is based 0n how zooxanthellae respond to light intensity. Zoox contain xanthophylls that act as protection against excessive light. As light intensity increases and exceeds the maximum amount of light required for max photosynthesis, the xanthophyll cycle kicks in and protects the coral/zoox from excessive light (but only up to a point.) I'm not sure where the idea that zoox need light for *six hours* and then photosynthesis slows or shuts down. I did some PAM fluorometry work with tidepool corals in Hawaii, and found they reached maximum photosynthesis as early as 9 or 10 am. In the afternoon, when light intensity decreases, this protective cycle decreases and rates of photosynthesis increase.
Again, I can only suppose that this concept is loosely based on the mechanics of photoprotection and effects of excessive light. If you are possibly over-lighting your tank (running LEDs at 100%) then the zig-zag lighting concept is probably a good thing. If you're under-lighting, it could have negative effects.
Mike mentions his (and Sanjay's) corals have vivid color. This is often the result of intense lighting, and likely another tool in the coral's arsenal against excessive light.
I'm not arguing that these guys don't have fabulous aquaria - they do! My point is that there is a misunderstanding among many as to why this concept could be beneficial. The fellow who taught me the ins-and-outs of a PAM fluorometer was Dr. Miguel Oliazola, who, along with Falkowski, described the xanthophyll cycle. I am forever indebted to him for taking time out of his busy schedule and answering all my stupid questions.