I think setting a prohibitive limit price on the parent order is also a reasonable way to effectively pause execution when this is preferred over re-submission. My guess about IBKR supporting changing good-after-time for standing orders was based on the fact that it does support changing good-till-date setting, but this setting obviously does not cause the order to pause which could make a critical difference.
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As for cancelling the orders, one thing that would make me hesitate to prefer it over modifying is IBKR's order efficiency ratio guidelines ("OER", IB KB articles 1343/1765) where they count cancellations towards increase of inefficiency and recommend revision over re-submission. So if this happens to be an important consideration in the context of a particular trading method then cancellations are best avoided. However if modifications are used for pausing an order, two such events would be required, effectively equating in number the combination of a cancellation and a new submission. Either way, it should be noted that very frequent client-side hunting for a new limit price without execution will likely be prone to violating IB's guidelines.
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Best,
DS
