Parker's normal shooting stroke might have been within 1 second, but he brought the ball down to the ground which would be around an extra 0.3 to 0.5 second more.
The shot should not have counted.
I remember in 2002, Kobe hit a buzzer beater against us with 1.3 seconds and he got the shot off after he pumped faked once, waited, set his feet up and took his normal shot.
The shot was waived off because he could not have pumped fake and take a normal shot stroke within 1.3 seconds. Each action would have taken about 1 second each.