Absolutely. Buddy breathing is a very poor solution to sharing gas, and would only be appropriate if the two of you were sharing one gas source and one regulator. I'm not an instructor, but I don't think that it is even taught any more.
I wouldn't dive in any gear configuration that required that. Of course, if you have an OOA diver AND a second stage failure with no pony, then you might have to, but that's planning for two simultaneous failures.
The OOA diver gets your working primary reg immediately. Then you can take a minute or so to either go on your backup second stage or your pony. Then you ascend. If you were on your pony and the victim was on your only second stage, it might make sense to switch once everyone is breathing well and a bit calmer, but I guess you could also ascend without switching if one or both of you was still panicking.