De acordo com James Jacobs, diretor de criação da Pathfinder, ele se move com você. Fonte
The spell moves with you, but makes it look like you're simply sliding over the ground. It masks what you're really doing. It's not meant to trick folks into thinking you're not doing anything as much as it is meant to simply mask what you ARE doing. It masks any action, and therefore prevents folks from making attacks of opportunity; it's kind of a "poor man's invisibility" spell in a lot of ways. Foes are not flat-footed against your attacks.
The spell's pretty specific in what it does. Don't let the flavor of the spell's name or its in-game description trick you into thinking it does anything more than what it does—prevent attacks of opportunity when you cast a spell, make a ranged attack with a thrown weapon, or move out of your first square during a move action.