I take your point, but should their buy orders get filled are...

I take your point, but should their buy orders get filled are they still a seller or are thay actually a buyer/accumulator at a lower price point?
If you want to get out why stack the buy side when you risk buying more? Just sell at market or sell with an iceberg order to hide your exit - why risk increasing your holding unless you'd be happy to do so at a lower level.
It's the same reverse logic as the 1mill on at 22c now - they think it wont get hit, it's just there to make the sell side look worse, however if it did get hit there's a nice tidy profit in it if they've been buying everything at 18c.
Stacked buy out of the money = selling, stacked sell out of the buy = buying.
When you buy something 2nd hand you pick faults and make it look really bad to try and get a cheaper price - but at the end of the day you still want to buy it right? When you tell a child don't do something, they do it end vice versa. Reverse Psychology...