I think that the long time period between forward and reverse, is simply to ensure that the motor has come to a dead halt. Going directly from forward to reverse on running motor is called "plugging" and causes enormous inrush currents to flow round the motor circuit. Not good for invertors. The electronics can change the phases around in a few 100s of mS without any harm to itself.
I have read a lot of bad comments about the Dewhurst switch. I reckon that you should use it to drive a pair of interposing relays with mains coils that it last would forever. The problem with all switches that drive solenoids and motors is when the contacts open, a very high voltage arcs across the switch contacts as they open. This causes pitting and smoke deposits as they get worse, the contact area gets smaller, so in the end they overheat when they close due to the current flowing through a very small contact area.
The high voltage arc can be reduced to virtually zero by the use of a "snubber" network. across the contacts. This is a high voltage capacitor and a low value resistor in series. Should not cost more then £2 each .A simple version can be made without the resistor, only the capacitor at a cost of about 50p each.
Frank