What this really brings up is the subject of Right Reason. This is the most misunderstood element in what has so wrongly been called Hooker's Three legged Stool for far too long. Some think of it as merely "reason" and make it one of three equally balanced sources of authority. Some replace "Tradition" with "experience," subjecting the one and only reliable source of revelation left to us from the Apostolic age and the earlier age of the prophets, that is the Scripture, to the whims of human thought; they subject the Church to every wind of doctrine in the process.
In fact, Hooker wrote about Scripture, Right Reason and The Church with her Authority. For this last, he did in fact use the word "tradition" despite popular misinformation to the contrary. But, he used it sparingly, instead preferring to write in such a way as I have summarized: The Church with her Authority. This speaks not only of the Church's authority to teach the true meaning of the revelation, that is the content of Holy Scripture, but also of the Church's use through the centuries of Right Reason, and of the Church's strutures of authority, the pastoral offices of bishops and priests, polity, the making of Canon Law and Rubrics, etc. It was more, for Hooker, than only the Tradition of the Church's teaching. Right Reason is both the Wisdom we see in the Old Testament, and it is the "Mind of Christ" we see in the New Testament (I Corinthians 2:16). As such, the mind of Christ is not the sole property of any one individual, but is the gift of God granted to the Church. Perhaps, St. Paul saying "we" meant the Apostles primarily; but the context indicates he was speaking of all those whom he classified as spiritual (πνευματικός) rather than natural or "soulish" (ψυχικός).
Right Reason is, frankly, almost impossible to separate from Tradition, or the Church with her Authority. It is not at all clear, really, that Hooker was thinking of three elements that guide us rather than two. Modern day "liberals" might be shocked to learn that what they call "Reason" was, for Hooker (whom they wrongly think of as one of their own) completely tied to the Tradition, and was in fact the same thing, being the mind of Christ in the Church; that is, the Church with her Authority. They may think of "reason" with a mind no higher than a gutter in which the zeitgeist reigns; but Right Reason is beyond their reach. It is very conservative, and demands that we give place to what G.K. Chesteron wrote of as Democracy that includes the dead.
About the subject of the sacrament of Christ's Body and Blood, we have no revelation concerning when in the Eucharistic prayer the Bread and Wine become the Body of Blood of Christ that allows us to make a dogma out of singling out the Words of Institution for special consideration. Certainly, using the very tools he spelled out for us, Hooker considered it to be unimportant when the consecration was consummated, and believed we know only that they are the Body and Blood of Christ to the one who duly receives them (and condemnation to the one who presumes to receive without "hearty repentance and true faith." That is, his presumption adds sin to sin). He ruled out, of course, Transubstantiation (as then understood), making the question of when the Real Presence is fully in the sacrament immaterial.
Nonetheless, I have no problem genuflecting and elevating the elements after saying the Words of Institution. With the proper use of Right Reason the western Church knows that we cannot, after the Word of God is spoken, treat these elements any longer as common bread and wine. Indeed, the rubrics themselves testify that they are considered to be consecrated. This does not contradict the fully acceptable Catholic sort of Receptionism (if it be called Receptionism) that teaches that the grace of the sacrament comes only by receiving. The Word of God has power, and the fullness of consecration may have only begun at that point, to be completed only by receiving; or the consecration has happened at that moment when the words are spoken. We do not know; but we can trust that the Church with her Authority has given us, in our patrimony a liturgical shape that allows us to believe that God's power is behind his words spoken by his servants who act as Christ's own mouthpiece. Can we then genuflect, and later enjoy Eucharistsic devotions before the Reserve Sacrament? That depends on our faith in God's word, so long as nothing be substituted for eating and drinking.
With all of its wisdom, and all of its dogmatic teaching, the Church's Right Reason leads us to acknowledge the glorious mystery, and to humbly confess our ignorance about how God works his wonders. That is enough; it is as far as even Right Reason can go.