I seem to be seeing it more and more lately but it is one of those things that seems to irritate the snot of me. I see a biker riding through an intersection, parking lot, turn or what ever else with their feet hanging out to the side just inches off the ground. For the love of Pete just pick your feet up and ride! I mean if you don't have enough confidence or the sense of balance enough to know how to handle that ride of your then 1) park it. 2) get your self a trike or some kind of training wheel kit. 3) take a riding course and learn how to handle that bike of yours.
Reminds me of learning to ride, the old boy who was one of my instructors hated feet not up. Doing u turns he would run up to you and yell feet!!! So funny, now my feet are up as soon as that bike moves and until it stops, I think if I dangled them or tried to 'walk' the bike I would fall off
Relax. Let your feet down. This ain't no Iran. Who makes these rules you believe need enforcing? I'll let my feet down whenever I'm in the mood. Sometimes after riding for hours with my feet condemned to the pegs, it feels pretty good to change positions.
If it feels good, do it!