i agree with the others. potty training is tough, and poop on the potty is tougher. its a long process that i started at 2, but then do to several factors like selling our house, moving into a horrible rental, moving into new house, and being sick, pregnant, ect, i had stopped the training. then when i started it up again, it took a long time. at 3 1/2 we are great but even so, once every 1-2 weeks she has an accident. anyway, my point is potty training for many is very difficult.
i would say time out in general isnt understood right away, and 2 is the earliest age you should start, but that doesnt mean she will understand in the beginning, so i wouldnt assume its "not effective with her" at this point. and make sure you are following guidelines exactly as you will confuse the matter if you are inconsistent. that said, i dont think her behavior warrants time outs. if YOU insist her behavior is defiant, she will start to see it that way as well, and after time, yes MIGHT do it to be defiant. but at this time, she just is experimenting, and confused about the feeling. she doesnt KNOW poop is yucky. the fact that she is calling you in after, first of all, is def ahead of other kids in terms of her understanding the potty, but also shows how she sees nothing BAD about it. if you continue to scold her, she will stop telling you and probaly start to hide it in fear of your reaction. she is telling the truth so you should appreciate that part of it.
im not into the tape thing, but i agree with the onesie/footsie suggestion. also, try to figure out when she has to go, to either get her on the potty, or at least prevent her from getting to the hand part. im not sure she would be ready for panties she you havent mentioned pee, but gerber and others sell training pants, which will still get clothing wet, but not allow it to drip down the leg. gives you a little less mess but may be a transition and she may not want to go poop in them. many times a child might be trained but ask for a diaper for poop. i still think thats wonderful. lots of kids are only half trained for months.
the best thing that worked for us was setting the kitchen oven timer, and had the potty there. every 45 mins it rang and she went. the poop didnt come until much later.
dont worry to much, its just a phase. imo, she may just be a little young to understand whats going on right now, and is trying to figure out whats going on. at 2, each month there is more and more understanding of the way things work, so just keep explaining things, and keep trying to watch for signs to go. my nephew would hold his poop for days in his underwear. her just wouldnt go on the potty, so they ended up giving him a diaper for poop. well one day, he went accidentally on the potty. after that day, he decided he prefered to go on the potty and liked it much better, and has never worn his diaper again. sometimes they just are scared until they see its not a big deal.
good luck