Following a previous study (Cheng & Tsai, 2014. "Computers & Education"), this study aimed to probe the interaction of child-parent shared reading with the augmented reality (AR) picture book in more depth. A series of sequential analyses were thus conducted to infer the behavioral transition diagrams and visualize the continuity and paths of different learning behaviors. This study also explored the parents' conceptions of AR learning so as to understand more precisely how the children and their parents behaved. The results show that the parents in the "parent as dominator" group mostly considered AR learning as obstructing paper book reading and seemed to continually dominate the reading process to prevent the excessive use of mobile devices by their children. Compared with the parents in the other three groups, the parents in the "low communicative child-parent pair" group likely considered AR books as being a substitute for them reading to their children and did not frequently interact with them. The parents in the "communicative child-parent pair" and "children as dominator" groups played a mediating role during the learning process and generally showed positive beliefs about AR learning, such as considering learning by AR as fostering motivation and attaining in-depth understandings. A framework for implementing child-parent shared AR book reading is proposed for pedagogical consideration.