It says that it's traveling when the pivot foot touches the ground again (on a pass or shot).  This would make it seem like you could hop on one foot (the non-pivot foot) several times and then shoot it.

A few years back after re-reading the rulebook and noticing this I asked my friend (a college ref) about it.  He knew what I was talking about, and said there are special scenario instructions they receive that covered this.  Hoping like this is forbidden.  Why they don't just word it better in the rule book, I don't know.  The NBA wording for traveling is different.