It is probably easiest to break it down one by one so we keep everything straight throughout the rule.
1. Before a change of team possession a Team A player who is beyond the neutral zone may not block below the waist toward his own goal line. When in question, the block is directed toward his goal line.
***This is new for this year and has not been accepted by UIL at this time, I think it would be unlikely that they would add an exception for this one part of this rule so most likely it will be in effect this season***
So any player, even if they are eligible to block below the waist otherwise, if they are past the neutral zone, cannot block below the waist back towards their goalline which would be back towards the original line of scrimmage.
2. Before a change of team possession the following players of Team A are restricted with regard to blocking below the waist:
a. A lineman more than seven yards from the middle lineman of the offensive formation at the snap.
b. A back aligned at the snap with the frame of his body completely outside the tackle box or completely outside the frame of the body of the second lineman from the snapper in either direction toward a sideline.
c. A back who is in motion at the snap and was outside the area in b (above) any time after the ball was ready for play and before the snap.
So with this section, part a, any lineman who at the snap is more than 7 yards (this is just an approximation and is meant to include the TE, so he does not have restrictions, in a normal 11 man formation with normal line splits) has restrictions as to how they can block below the waist. So this would only get the RE in our formation.
With section b, any back who is outside the tackle box (a rectangular area 5 yards on each side of the snapper extending to team A's (offense) goalline, this box disappears as soon as the ball leaves the area), so in our formation it would be the Split End.
And C, if a back is at motion at the snap and was outside the tackle box anytime after the Referee makes the ball ready for play and at the snap he would be restricted as well. So, if the ball is made ready and if the SE went in motion and even if he was in a position at the snap where he would not be restricted, he would be due to this.
3. A restricted player may not block below the waist against any opponent who is inside the area in paragraph 2-b. Outside this area a restricted player may not block below the waist in a direction away from his adjacent sideline. He may legally block below the waist along the north-south line (Rule 2-12-9) or toward his adjacent sideline, but not toward his own goal line when he is beyond the neutral zone (see a-1 above).
This part discusses how and who the restricted players by definition in 2, can block below the waist. So if you are restricted, you cannot block below the waist against anyone in the tackle box. If you are restricted, by rule, and you want to block below the waist, you can only do so on a N/S line or towards your adjacent sideline and not back towards your goal line.
4. All other players of Team A are unrestricted and may legally block below the waist, other than in a-1 above. In particular, a player is unrestricted if he is in motion at the snap and is never outside the area in paragraph 2-b after the ball is ready for play and before the snap.
This is pretty straightforward, if you aren't restricted by definition in 2 above, you can block below the waist in any direction, as long as it is not towards your own goal line.
So in your formation, the only players who would have restrictions, regardless of which way the play went, as far as blocking below the waist would be the RE and the SE, and they could block below the waist as long as it was on a N/S line or towards their adjacent sideline at the snap.
Now keeping who was where at the snap is hard enough in 11-man, add the back and forth, reversing of fields in 6-man and you can quickly see how that might be even more difficult to keep exact track of who was where. ESPECIALLY if you are in a jr-high/jv game where you might have only two or three officials.