It is my understanding that when you limp wrist, you are not holding enough force on the frame, and while the slide moves back, so does the frame, which can lead to the slide moving too slow (in relation to the frame), not moving back fully, or not returning forward fully. The first can cause a stovepipe, second a failure to feed, and third a failure to fully return to battery.
Think of it like holding onto the frame without much force, limply, then using more force to rack the slide. When you attempt to rack it, because you have less force on the frame, and it is in your hand limp, it is also going to come back with the slide. This is the same thing that can happen when shooting, hence being called limp wristing..