Not that it matters. It's just that if a certain result (i.e. touchdown or fumble) is deemed not to have occurred, whatever happens after it shouldn't occur either, unless it involves an instance of possible injury to a player. They want to dance around like a$$hats? Great. Let them be embarrassed when they do it for no reason.
Taunting is a dead ball foul. So even if the play (live ball action) gets over turned the foul still stands.