Crusades - Retreat and Panic rule

When Retreat and Panic rules are in effect, and a mid-Eastern light cavalry/light bow cavalry unit attempts a Feigned Retreat, is it still subject to a Panic Loss roll?
My opponent and I argued it both ways:
(a) the Feigned Retreat "was a battlefield tactic practiced..." by these troops, so should not be a cause of panic. It is not a real retreat, it is just a tactic.
(b) the Feigned Retreat procedure says "The action that does happen is a full four hex retreat by the light/light bow cavalry unit" - so there is still a retreat, which might dissolve into panic. Hence the Panic Loss roll should still apply.

My view is that it is (a) for 2 reasons;

1. It is a "feigned" retreat..  meaning a pretend thing
2. If the feigned retreat roll fails, the attacking cavalry has to treat that as an evasion. 

Overall, it seems that Feigned retreat is a 4 hex evasion which can draw the attacking cavalry with the feigning unit if successful.