I have just been on the public lecture of Russian astronaut Mikhail Kornienko, where this question was answered, and yes, its mostly caution, because there is no "up" or "down" or any feeling of direction whatsoever, so you easily can hit something if you gain a lot of speed (don't forget that while you have no weight, your mass and thus inertial moment are still there with you). And of course the suits for going into open space are somewhat rigid and restricting your free movement to the significant degree. But mostly it is a caution - not to fly away and not to accidentally throw away something, because you know, if it's not connected there is absolutely no way to get it back.