I tested the effect of pierce and bounce passive skills with the basic staff attacks.
Pierce works, albeit inconsistently. Sometimes it will stop at the target. Other times it will go through the target, and bounce to other targets, effectively hitting four times.
Bounce is much more consistent. The passive skill that gives basic attack projectiles two bounces, actually adds two additional bounces to the staff attack. The perk after that adds another one. So if you invest in that line, your basic attacks will hit six targets. Add another projectile and you have a total of twelve hits.