Check out Roger Gracies matches, he does the 2 on 1 armdrag against elite level opponents all the time from guard. There's some excellent breakdowns online of how he accomplishes it.
Absolutely, but it's a slightly different 2 on 1 grip and we were trying to answer a question specifically about the arm drag grip shown in the Back Attack Formula App. I teach Roger's method at my academy, you are right, it is incredibly effective.