Manning takes the snap, Tebow drifts left, Rback drifts right.
Manning can pass downfield or lateral it to Tebow who then has the option, or flips it to the Rback on the opposite side of the field.
Ball is snapped to Tebow, fakes handoff to Rback, either runs, passes or laterals to Manning who then throws a pass.
The defensive end can rush Manning or Tebow, can’t do both.
Cornerback can play Tebow run, then Tebow passes or vice versa.
One way or the other either Tebow /Manning can take advantage of 1. open receiver or 2. open rushing lane.
Ball is snapped to Tebow, fakes handoff to Rback, either runs, passes or laterals to Manning who then throws a pass. And if Tebow passes there's a 50-50 shot it fall incomplete. And if he does get it back to Manning who is a pure timing passer Manning is stuck trying to make a pass 4 seconds after the snap when his average snap to pass time is 1.8 seconds, now he's standing there like the Statue of Liberty with the defense 2 seconds closer to creaming him.
These are slow developing plays, the defense can rush both, especially because when Tebow has the ball he'll have one less blocker/ receiver on the field than normal because Manning is there too. They sound great on paper, but the reality is this is not the combo of players you want for that type of play. Put him in Pittsburgh teamed up with a QB that also likes to hold the ball too long and can scramble and block it might work. Teamed up with a pure timing passer that's never thrown a good block in his career it's a recipe for disaster.