Thanks to all your suggestions, it is now possible to simply stop typing to think about the current verse.
Simply stop typing and, after 5 seconds, the timer will immediately stop and be set back 5 seconds; text at the bottom of the screen will indicate this. Read the verse; think or pray about it. When you're ready, just start typing again as if you never stopped.
It helps to check the option to "Show Underline" on the options menu so, when you're ready to start typing again, you know exactly where to start.
This feature is also useful if you need to walk away from the computer for some reason.
Isaiah 55:11 (WEB)
... My word that goes out of my mouth: ... it will accomplish that which I please, and it will prosper in the thing I sent it to do.