Amy, you are correct. A picot Bind off, written:
BO 2, CO 2, BO 4
Would be worked like this:
Bind off two stitches in the normal way.
Now add 2 stitches by working a Cast on for 2 additional stitches. To do this, you'll need to move the one stitch on your right hand needle, back over to your left hand needle
Now repeat the next two steps until all your stitches are gone:
1. Using Amy's basic "Knitting on" cast on video:
Pretend the first loop in her video is the stitch you moved back to your left hand needle. You will need to make 2 additional stitches
Bind off 4 stitches
It sounds weird, but if you do this a few times, you'll start to see how it works.