I tend to think of the core of the ocho cortado as the change in direction of the follower:
The follower does a sidestep, and then returns on the same path, but with a backstep (which is usually led into a cross, but this is not neccessary). The easiest version of this is if the followers sidestep is cw around the leader, and then the backstep ccw around the leader.
If i were to work on this i personally would not worry about the first part of the conventional sequence too much, and just use whatever entry for the cw giro you are most fluent in)
and now the tricky questions start - i think there are actually three different ocho cortados with slightly different ideas:
1) there is a rebound from the sidestep into return-sidestep , and during the return sidestep the leaders upper body realigns, which also realigns the followers upper body, and morphs the sidestep into a backstep, and into the cross (the main attraction of this is the "snap" into the cross)
2) the giro is more flowy and round and the follower starts to align themselves for a backstep when they pass the middle axis, and the leader circularly reverses the flow of this backstep alignment into the backstep alignment in the other direction, and then walks that backstep into the cross (the main attraction here is what jan would describe as the butt-shaking)
3) the leader grounds the follower on their middle axis in the sidestep, by realigning the couples orientation changes the followers foot position from a sidestep to a front step, to a backstep to a front step to a backstep and repeat, till they get bored and they move from one of the followers middle axis backstep position into an actual backstep and cross (the main attraction is the followers footwork when changing alignments)
All three have different points of where the follower needs to feel the grounding, and the reversal of the direction, and all three are to some extent conditional on how the embrace is set and used, and what the dynamics of the giro are, but the key is always that the "direction" of a step changes due to the body alignment changing, despite the fact that the center of gravity/feet trace the exactly same path back.