The only time I ever dismount and walk my bike across the street using the crosswalk (or not) is when I'm openly crossing against a red light and there's a police officer in the vicinity. If I roll through the red, it's a moving violation which will affect my driving record and, by extension, my insurance premiums. If I dismount and jog my bike across, remount and pedal away, it's jaywalking. No moving violation, no misdemeanor... it's an infraction. I have yet to be cited for jaywalking. YMMV!
-Kedosto