That's the IS kicking in. You must have had it in the wrong IS mode.
Mode 2 is for panning, where it will stablise vertical movement but allow horixzontal movement. Mode 1 is for ordinary use, where it will stabilise movement in both directions. If you try panning in Mode 1, it will try to compensate for the horizontal movement, and then at some point it will realise it can't compensate enough and will give up. That's when the image jumps.
There's a useful manual that comes with the 70-200 f/2.8 IS. You did read it, didn't you?