In my case, and I assume it's the same for most other employers, any stand down period does not impact continuity of service. As an example, the only commitment I currently have is a type rating bond for a period of 3 years. Hypothetically, if my employer stands me down after 1 year, my bond keeps decreasing during the stand down. If however, I choose to resign during the stand down period then I am obliged to repay the pro rata amount.
If you're thinking of switching jobs, industries or whatever during your stand down then my suggestion would be DON'T resign. You're allowed to seek alternate employment during the stand down and it makes no sense (financially) to resign - even if you dont intend to return. Wait until your employer wants to stand you back up and then resign. That way you maximise annual and long service leave accruals and reduce any, if not all (depending on the length of stand down) of your bond repayments.
Hope that helps somewhat...