For instance, say Joe Schmoe works during the day and would have waiver priority in a "normal" league. Say 2 other managers don't. One of the managers not tied down by work releases a player and the other non-working manager picks him up immediately, or during the period that Joe is at work. How is that fair to Joe? He gets penalized because he has to work. In most leagues, with a waiver period, Joe would have a legitimate shot at picking up the dropped player, as he should. It just makes it so that everyone in the league has a shot, not those that are signed on at just the right time.

In your position, it's particularly lame because you, and only you, know the exact time that you're going to let the trade go through. Because of that, it allows you a completely unfair advantage over the other teams, unless one is miraculously online checking their team in that 60 second window you were generous enough to provide. And even if everyone knew what time the trade were going to be approved, it's pretty lame to make it a free-for-all for picking up the player. At that point, it becomes a contest of internet connection and clicking. Sounds real fair, eh?