The given instructions are: "K2B = Knit 2 below: Place tip of right needle into center of stitch 2 rows below and knit." It doesn't specify that you should pull the stitch on the left needle off (even though it's kind of self-explanatory). Perhaps try K2B on a sample swatch without pulling the stitch off?
On second thought it would increase the stitches. Not sure if you want to try it still.