Yes it makes sense for a flagman to also have torpedoes. I vividly remember a very sudden stop when riding in the cupola of a caboose. We were jogging along at about 30mph. The enginer must have dozed as he ran right by a flag. When he hit the torpedoes he wiped the slate. By the time the slack ran in on 125 cars it was like hitting a brick wall.
However, I hear dispatchers giving orders that state "flag protection not required for following trains on the same track." Things are different nowdays.