I've seen this too. One time, in SMB camp... I watched a smallie hit a topwater floater 3 or 4 times knocking it into the air about 4-5 inches each time but never hooked up. Each time the smallie would position under the bait then wait for the opportune moment to strike pushing the bait out of the water with his body right behind it. He would then reposition under the bait and do it again. The bass kept this up until it was about 5 feet from me and recognized there was this dude standing in the water watching him. But it was interesting to see.
