I have my students do this as an exaggeration drill. It will help them to FEEL the whip while keeping the arm close to the body.
OH.... Okay.... it's an exaggeration drill. I sometimes do exaggeration drills, because they will normally not exaggerate the move when they are doing full-motion pitching.
This is interesting to me, as my (few) pitching student tend to learn the riseball more easily than seems to be the case out there. I think it's been because I pushed the arm-whip action so much that sometimes the back of their hand IS facing their thigh as they go into their release. It's also due to my over-doing it on the palm up down the back side. Those Balswick clips helped me realize that the hand orientation isn't really palm up as much as we do after 9:00 (maybe 8:00).