James,
When you are on a fishy looking school of bait and fish, it looks as though you have the graph in simulator mode! Its actually really cool to be able to distiguish the different mood of the bait and how they appear on the graph. What I have seen over the years out there is that the schools of bait that I like to target are the one that are very tightly bunched up. This indicates that there are predators nearby and are either on the chew or the table is being set for them. When the schools are more spread out, it seems as though the bait is less stressed and in turn possibly not be felt like they are being hunted.
Obviously the perfect tell tale sign when seeing action on your graph is the tightly woven schools and big ol arcs nearby. That means get the net ready!
newt,
Thats my fihing buddy Bailey you see in the front of the boat. She makes every trip with me when I am not guiding, rain or shine. She has been there and done that in the boat. When I bring a fish in the boat, she walks to the opposite end of the boat and lays down with a look like she would rather be on shore chasing a thrown stick.