There's a way to perform this slide as a disengage version.
Perform the pivot grab and afterwards make a reversed UpB and wavebounce it as it starts coming out.
This way You start sliding away from the opponent (due to the wavebounce), while still facing him (because of the reverse UpB).
Practically, you can slide wherever You want, looking in whatever direction You want to.
I'm already using the slide itself, but i'm still messing up the follow ups after the egg hits, since i slide so far away from the enemy.
Yoshi's neat.
edit: btw., jumping backwards off stage to FAir enemies camping the edge is Your best friend in Smash4.
Since they have no invincibility frames after grabbing again, they are friggn dead. #shrekt #RIPinpepperonis