Hello,
That statement should read weaving shall not be more than three times electrode core diameter. A specification cannot be a single value but range, it's impossible to achieve exactly 3 X core electrode diameter.
The meaning for example you are using 3.2 electrode, the width of weaving should not be more than 3.2 x 3 = 9.6mm.
One of the reasons for specifying maximum width of weaving is to control cooling rate during welding. The more the width of weaving, the slower the travel speed which also increase the heat input for specific current and voltage. The high heat input slow down cooling rate leading to grain growth which have negative consequence on toughness of the weld.