Brian, so in the example in which you mentioned where the BB (player 2) bets $200 OOT, and the action goes immediately back to the SB (player 1) what happens if he bets $200 just like the BB's OOT $200 bet? Is that action changing?
This IS action changing as per TDA rules. As such Player 2 now has all options opened to them which are Call, Raise or Fold. However, the chips that were used by Player 2 during the OOT bet have NOT been specifically mentioned in the TDA ruling. This leaves the ruling, somewhat, open for interpretation.
In your OP, Player 2 bet 200 chips OOT and finalised the action by releasing the declared amount in a forward motion. Then when action is backed up to Player 1 who then bets 200, the 200 bet from Player 2 is still sitting in the pot. The question is, If Player 2 chooses to fold, then does Player 2 get his 200 back from the pot?!?!
Assuming the only players left in this particular case are Player 1 and Player 2. I would also assume that I was asked to make a ruling after Player 1's Bet and before Player 2's decision. I would have to do two things:
1) Rule that the OOT chips from Player 2 would stay in the pot.
2) Make sure that Player 2 is aware of the ruling before they choose to Call, Raise or Fold.
I am a believer that "Chips should stay" because it would prove as a deterrent against OOT actions. Plus all of the cardrooms that I've been to use similar rules which means a conformity between my room and others around the world which use TDA rules.
If it is, does that mean the BB has the option of taking his/her bet back and reconsider whether to fold call or raise?
IMO, Player 2 does get to reconsider whether to fold, call or raise but they do not get their 200 back which was added to the pot.
What is to prevent any player to act out of turn, in that position, if he knows that he can get his bet back, or even raise, even if the action were backed-up to the proper bettor who wagered the same amount?
I would have to determine whether the OOT action was made intentionally or unintentionally. If I thought that the OOT action was made unintentionally, then I would only issue a warning. If I thought the OOT action was made intentionally, or for a repeated offence, I would issue a minimum one round penalty.
Hope this helps
