How can we tell that the toy was designed to be transformed this way? Perhaps the most obvious cues are the two round nubs that are on the bottom of the black feet that are used in this robot mode. The nubs aren't used in any of the official transformations, and would be normally expected to remain flat for purely aesthetic reasons in Counterpunch's robot mode, where they sit on top of the feet. In this "dwarf" transformation, however, they are exactly the right height to lend support to the bottom of Punch's robot mode.
However, it seems just as clear that, by the time the stickers were designed for the figure, the decision had already been made to transform Punch in the now-traditional way, in which the legs are essentially just Counterpunch's legs seen from the other side. I'll demonstrate this when I feature the figure more fully when the new one comes out in July or so.